Turning your home into a rental property can be an exciting process. You must carefully screen your tenants, but you also need to make sure your property is worth renting. After making sure your home meets all the local building standards, you should research the applicable landlord and tenant laws. An Salt Lake property management company can offer you advice on rental agreement contracts. You need to be aware of the guidelines regarding security deposits and eviction notices. Here are a few things every landlord should know about renting a home.

Your Rental Price Needs to be Competitive

Your home needs to be competitive with other local properties. An overpriced rental home can go unoccupied for months. You will also lose money if you rent your home for a price that is far below the market value. Research neighboring homes in your area, and compare the amenities in several homes. After comparing amenities, you should be able to decide on a competitive price.

Use Multiple Promotional Tools

You should take advantage of free and paid advertising. Many people are searching for rental properties in Salt Lake, and you are likely to find your ideal tenant when you use several different advertising mediums. Most potential tenants will want to see the property before signing a rental agreement. Saturdays and Sundays are great days to host a tour of the home.

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Landlords are expected to work day and night every day of the year. Your tenants will expect you to fix small and major issues in a timely manner. You will also have to deal with rent payments and legal notices. When your property is occupied, Keyrenter Salt Lake can handle your monthly payments and maintenance issues. We can make sure small problems do not escalate into major issues.

If your tenant breaks their rental agreement, you need to know your rights as a landlord. You will be required to give the tenant a legal notice of the eviction. You must follow the proper legal protocols at all times during the eviction process. Omitting a required step could result in you losing out on money that is owed to you. If the court agrees that your eviction meets the Utah rental guidelines, a law enforcement officer will assist you with removing the tenant from your property.

A friendly customer service representative at Keyrenter Salt Lake can help you with all the large and small details. Call us today at 512-596-0055.

Being a landlord can be challenging. You have to make sure the house you are renting meets local building codes, and you have to thoroughly investigate your tenants. Renting your home to irresponsible tenants can have disastrous results. In the end, you could be suing your renters for damages. You could lose out on rental income while you go through the eviction process of your rental properties.

Screening Potential Tenants

The screening process will eliminate most people who will not be quality tenants. When you properly screen potential tenants, you will have peace of mind knowing you are renting your home to responsible people. Before starting your screening process, you should make sure you are not violating any rental discrimination laws.

Review the Applicant’s Credit History

When a person shows interest in your home, you should ask to see their identification and rental records. You should also ask for references. After getting permission to check their credit report, you should look for delinquent accounts and evictions.

Choose Your Rental Standards

You need to decide if you want to rent to someone with a criminal record. If the house is in a low-income neighborhood, you might be considering renting to people with a criminal record. If you are willing to rent to applicants with a criminal record, you should make sure the crime did not occur within the last few years.

Speak With the Applicant’s References

If the person has a good credit history, you should interview their references. You need to make sure the potential tenant has credibility with their references. You should ask their references to rate the reliability of the potential tenant.

Review the Applicant’s Financial History

When you complete the reference check, you should make sure the potential tenant can afford to pay the rent. The tenant’s monthly salary should be at least twice the amount of the rent.

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After completing these steps, you should be able to make an informed decision. Quality tenants are hard to find, but a thorough background check can ensure you are renting to reliable tenants. Before closing the deal on the rental agreement, you should make sure the tenant is aware of their responsibilities. Your contract needs to state guidelines for due dates and late fees. Your contract should also state the tenant’s obligations in regards to caring for the rental property.

When you are looking for an Salt Lake property management company, Keyrenter Salt Lake can meet your needs. Contact us today at 512-596-0055.