How to Safely Rent My Home While I Travel
- 1). Query relatives, friends and coworkers first to see if any of them would be interested in a short-term rental agreement while you're away. This could remove some of the anxiety of having your home occupied by individuals you know little about.
- 2). Identify the exact length of the lease and how much you plan to charge, what types of deposits you'll require, whether your furnishings and household items will be part of the package or put in storage, and what will be expected of the tenants in terms of maintenance. In addition, you'll also need to decide whether monthly fees for utilities, water and garbage collection will be paid by the tenant or by you as the homeowner.
- 3). Consider using a property manager to handle the advertising issues, the screening of prospective tenants and the handling of rental contracts. While you're going to be charged a fee for these services that might be as much as one full month of rent, property managers have an expertise that could save you valuable time. If you decide to do everything yourself, you'll need to take out a classified ad, advertise on CraigsList or put up notices on community bulletin boards to attract interested tenants.
- 4). Schedule personal interviews with each of the respondents to your ad who seem to be the best matches for your needs. Conduct these interviews just as you would for any job applicant; after all, you're hiring them for the crucial position of a trusted housesitter while you're gone. In addition to getting a sense of their personality, lifestyle and maturity, you'll also need to verify their employment, arrange for a credit review and criminal background check, and get references from their past landlords and employers.
- 5). Prepare a contract that clearly delineates the terms of the lease, the due date for rent, the deposit requirements and the legal remedies to be taken in the event of default. If you don't have access to a lawyer to draft a rental agreement for you, there are plenty of property management software programs on the market that allow you to download your own forms.
- 6). Advise your insurance company of your rental plans and ensure that your tenants have their own liability insurance in the event of accidents on your property. You'll also need to let your neighbors know that you have tenants and arrange for them to meet each other prior to your departure.
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