10 Steps for Making Your Home a Rental Property

If you’re a homeowner or an investor who is interested in generating a secondary income stream, consider turning your home into a rental property. Making your home a rental property is not complicated, and it can ultimately be extremely rewarding with enough effort and the right decisions. If you’re interested in making your home a rental property, there are a few steps to follow to ensure you are prepared each and every step of the way.

1. Fix the Plumbing

Before you think of placing your home on the rental market, it’s imperative to fix, upgrade, or replace any broken plumbing that exists throughout your property. Making your home a rental property requires more than simply listing it for rent to the public. You will need to ensure the property has updated and working plumbing. If possible, invest in energy-efficient plumbing to minimize water usage throughout your rental property each time the plumbing is used.

If you’re unsure about which repairs or upgrades your house’s plumbing requires, it’s best to work with a professional plumber. A professional plumber is not only licensed and insured, but most are also experienced in working with residential and commercial plumbing issues. A plumber can provide you with thorough inspections, maintenance services, upgrades, and even complete replacement of plumbing fixtures. Whether you’re in need of plumbing installation services or you’re struggling to determine the root cause of a backup in your home, it’s best to turn to professionals when addressing major plumbing problems in any capacity.

2. Eliminate Pests

If you’re in the process of making your home a rental property, don’t forget the importance of eliminating any and all pests. Pest and insect removal professionals are highly recommended if you have ever encountered a pest issue in the past. Whether your home has been infested with traditional fruit flies, hornets, wasps, or cockroaches, don’t leave the state of your rental home up to chance. If you are renting out a home and your tenant experiences a pest infestation, you will be required to pay for remediation services as necessary. You may also be required to pay for any losses or damages that are filed by your tenant, depending on where you live and what state your property is located in.

Notable benefits that come with ongoing pest maintenance and control include:

  • All-season prevention and protection: Rather than addressing pests once they have burrowed in and made themselves at home on your property, ongoing all-season prevention and protection services are best. Pest control maintenance can help identify and prevent pest infestations from ever getting out of control.
  • Reduce costs: Contrary to popular belief, investing in pest control maintenance is often much more affordable than paying for emergency services. Once a pest infestation becomes out of control, emergency services and remediation treatments will quickly begin to add up.
  • Protect your household’s health: Pests are not just minor inconveniences. In fact, they often lead to potential adverse health effects, ranging from lung infections to asthmatic attacks.
  • Responsible treatments and use of pesticides: Attempting to treat an infestation in your home on your own is not only stressful, but it can also lead to adverse health effects. Working with professionals who specialize in pest control is advisable when addressing any type of infestation. Pest control specialists understand how to use pesticides and apply proper treatments while minimizing the risk of inhalation or adverse side effects in those in the household.

3. Add Safety Features

If you’re in the process of making your home a rental property, consider the safety elements and features that are already present throughout the property. Adding safety features is not only a way to add value to your home itself, but it can also make it much more visually appealing to prospective renters and future tenants.

  • Check structural integrity: Anytime you are thinking of renting your home out, it’s important to ensure your home’s structural integrity is intact. Inspect floors, stairways, walls, and the roof to determine the current condition of your home before you decide to place it on the rental market. You can also invest in a brand-new staircase railing if yours is outdated or dilapidated. Helping your home feel as safe and comfortable as possible will also help to appeal to a wider range of prospective tenants.
  • Inspect electrical and plumbing work: Another aspect of the home that cannot be ignored when you’re thinking of renting it to a new tenant is the electrical and plumbing work throughout. Proper operations and safety are top priorities when it comes to electrical work as well as home plumbing. Always conduct thorough inspections to verify that your plumbing and electrical work is not only in working order, but that it is properly configured by today’s modern-day standards.
  • Update your HVAC system: Depending on how old your home is and how old your HVAC system is, it may be time for upgrades or a brand-new installation. Updating your HVAC system is not only a way to boost your home’s appeal to prospective tenants, but it will also increase safety throughout the home. Newer HVAC systems include enhanced safety features and modules while also providing energy-efficient solutions.

4. Change the Locks

Anytime you are in the process of turning a home into a rental property, it’s highly advisable to take the extra time to change and update all the locks. Changing the locks throughout a property is necessary whether you lived in the home previously or if you rented the home to another tenant. Changing the locks is important as it offers the following:

  • Peace of mind: You and your new tenant will have peace of mind knowing that the locks throughout the home have been changed since they assumed residence.
  • Increased security and protection: A set of new locks is recommended anytime a new tenant moves into your rental property. This ensures their safety and prevents previous renters from attempting to enter the home without permission.

Changing the locks throughout an entire home can be challenging and tedious for those who are inexperienced with the process. Working with a licensed locksmith is highly recommended for property managers and landlords. Finding a licensed locksmith is also useful for landlords whenever there is an emergency, as many locksmiths offer emergency services that are available 24/7.

5. Upgrade the Windows

One of the best ways to make your home a rental property while simultaneously increasing its value and appeal is to upgrade the windows throughout. Upgrading your home’s windows provides an opportunity to choose from different window glass solutions as well as eco-friendly windows for energy efficiency. If energy efficiency solutions appeal to you, investing in eco-friendly window solutions provides the following:

  • Increased insulation: Updated modern eco-friendly windows provide increased insulation that cannot be found in outdated and traditional window designs.
  • Modern appeal: Upgrading your home’s windows provides the perfect opportunity to incorporate a modern look into the exterior of your property.
  • Improved efficiency: Many modern windows are designed with efficiency and energy reduction in mind. Installing energy-efficient windows can also reduce the need for furnace systems and central air throughout the year, helping to extend the lifespans individually.

6. Clear Out Junk

If you’re in the process of making your home a rental property, it’s important to clean up the property as best as possible. You only have one opportunity to make a positive and lasting impression on potential renters. If your home appears messy, unorganized, and/or dilapidated, you will have a challenging time finding high-quality renters who are willing to pay your asking price. Cleaning out the junk from your home is essential before you can list it as available to rent on the open market.

If you’re getting started with the cleaning and organizing process of your home, keep the following tips handy:

  • Start with one room: If your entire home is messy and unorganized, the prospect of cleaning it up can feel defeating in itself. Choose one room to start cleaning and begin with larger items and pieces of furniture.
  • Designate piles of belongings: Create separate piles of belongings for those you intend to keep, donate, and throw away. This can help to streamline the process of cleaning individual spaces.
  • Use a dumpster rental service: One of the best ways to expedite the process of cleaning any home or piece of property is to seek out a professional dumpster rental. Dumpster rentals allow you to throw garbage away en masse without worrying about overflowing one residential trash can.

7. Take Care of the Yard

When making your home a rental property, you will need to take care of the yard as best as possible. The yard of a home indicates how well the property is being maintained. When you’re renting a property out, your yard will be the first location a prospective tenant looks at. A first impression can go a long way in attracting high-quality renters. There are many ways to update your yard before renting it out to someone else.

  • Traditional landscaping: Update the landscaping around your property by trimming bushes, plants, and weeds. Keep your lawn freshly manicured, especially while showing your home off to renters.
  • Irrigation systems: Invest in a fully-integrated residential garden irrigation system if you have a garden in your yard. This will appeal to renters who are interested in keeping up with the landscaping in their yards as well as those who enjoy gardening year-round.

8. Repave the Driveway

One aspect of managing a rental property that should not be forgotten includes the exterior of your home itself, including the driveway. Repaving your driveway and surrounding sidewalk is not only a way to increase your home’s value, but it will drastically improve your property’s curbside appeal. This can help you attract high-quality renters, allowing you to charge more to rent the property.

Repaving your driveway and updating your home’s sidewalks on your own is not a simple task. It’s best to turn to a professional driveway paving company to ensure the job is done right. Driveway paving companies work with professionals who are not only insured but also licensed and certified to work with a variety of outdoor pavement materials.

9. Check for Mold

Making your home a rental property is not advisable without a complete mold inspection. Checking for mold is extremely important, whether you’re renting out a single-family home or a multifamily apartment building. Mold inspections are necessary to identify potential problem areas throughout a property before they can be deemed suitable for renters.

If you are not familiar with inspecting properties for mold or if you prefer to work with professionals, turn to a local company that provides mold remediation solutions for commercial buildings.

10. Add Central Air

When it comes to making your home a rental property, investing in central air is highly recommended. While it isn’t strictly necessary to invest in brand-new central air and cooling solutions for your rental property, it can help in many different ways. Not only will a central cooling system help to make your rental home more appealing to renters, but it can also increase your property’s overall value. This will also provide you with the opportunity to charge more in monthly rent from your tenants. Adding central air is a way to make your rental property more appealing, comfortable, and valuable over time.

If you’re unfamiliar with the process of installing central air on your own, it’s best to turn to professional heating and air services. HVAC providers understand the ins and outs of not only working with air conditioners and central cooling but also with a myriad of furnaces. Whether you’re interested in investing in eco-friendly air conditioning solutions and central air or an entirely new HVAC system, the right professionals that offer heating and air services can help.

Making your home a rental property is one of the fastest ways to generate income from your home investment, even if you intend to rent out your primary residence. As you prepare to make your home a rental property, familiarizing yourself with available local resources and service providers is essential. With the right connections and resources, you can turn any home or property you have invested in into a suitable rental property.

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