There are many reasons you might need to temporarily leave your home, such as moving in with a relative in need, a trip around the world, or relocating for work for a few months or a year. Some people might be happy to give up their lease if they are renting, but if you own your home this leaving it vacant while you’re away isn’t a smart idea. Rather than leaving it vulnerable to break-ins and as a way to make some extra income to cover your mortgage payments, you might want to consider renting out your home temporarily. If this sounds like an appealing option to you, here are some things you will need to think about to do it.
If you’re going to rent your home to other people, you need to get a tenancy agreement drawn up to protect your interests and theirs. This contract will outline your expectations regarding how they treat your home, what you class as damage, how you expect them to behave (for example, no big parties or anti-social behavior), how much rent you are charging them, and the date each month when that payment is due. Talk to an attorney who specializes in this to make sure you have covered everything you need to.
As a landlord, you have a responsibility to make sure that your tenants remain safe while living on your property. While, of course, there will be certain things you can’t protect them from, you should install alarm systems, quality door locks, have working smoke alarms throughout the property, and include things like fire blankets or extinguishers in case of emergency. You should also double-check the electrics and plumbing before you go to make sure there aren’t any lingering issues before your tenants move in.
Another thing you might want to consider is moving any valuable items of furniture or other belongings you’re not comfortable leaving in your home while you’re not there. This facility for self storage near Jacksonville is a good example of the kind of thing you should be looking for, and you can look up your local one online. They often have flexible leases and affordable rates, making it an ideal, secure place to keep your things until you return home.
Find a Reliable Local Handyman
One of the other responsibilities of a landlord is quickly fixing any broken appliances or part of the property that could be causing an inconvenience to your tenants. You will need to find a reliable and local handyman that you can call to go around and take care of these problems for your tenants as quickly as possible.
Ask for a Deposit
As well as getting monthly rent, it’s wise to ask your tenants to pay a security deposit to you before they move in. This will help you to cover any damage that might occur during their tenancy, but if they leave your home in good condition, you will refund this amount to them when they move out. It gives you peace of mind that they are more likely to respect your property, or at the very least, you get some compensation if they don’t.
If you need to vacate your home temporarily and are considering renting it out, remember these basic tips to get the most out of your situation.