There are a lot of questions that come up when trying to decide if renting your home long term is right for you. Here are frequently asked questions.
My home is furnished. Do I need to store my furniture?
While many tenants do have their own furniture, it can be helpful for a tenant if the house if furnished. Many renters do not have a complete house full of furniture and would appreciate having furnishings. Furniture can be addressed, if needed, when we find the right tenant. Kitchen appliances should always be provided, however, if hookups are available, washer and dryer are optional.
What happens if there is damage to my home?
That depends. If the damage is normal wear and tear it is the owner’s responsibility to take care of the damage. If it was caused by a storm or accident it may need to be turned into your insurance company. If it was caused by the tenant, it would be their responsibility. As your property management company, we help with the logistics of repairing the damage.
How long will it take to find a tenant?
How long it takes to find a tenant varies depending on so many factors. Size, location and price are a few of the main considerations. A 1 or 2 bedroom property may rent more quickly than a larger home. Properties priced under $1500/mo will likely rent more quickly than higher priced properties. Most renters move in the summer months so it could increase the time to find a tenant in May or October.
Should I long term or short term rent my home?
If you are looking for a consistent source of income, having a long term lease in place may be a good option for you. If you want to use your Summit County home, having some income through short term rentals while having the ability to use it yourself, might be a better option for you. No matter what, having tenants will add wear and tear to your property. As your property management company, we will encourage tenants to take good care of your property and to reach out to us if they have any problems.
Still have questions?
Check out our Tips for Landlords or reach out to us directly. We’re happy to help you make the best decision for you.
