Criteria to Consider When Renting Out Your Home

You’ve weighed the costs and benefits, talked to a trusted property management service, and finally decided to list your house as a long-term rental home. Congratulations! But now what?

Once you begin prepping your house to be listed, you’ll want to think about the type of renters you’ll welcome into your space. Are you going to accept tenants with pets? Will you open your doors to college students, or do you prefer to rent exclusively to non-students? The list goes on, and these are just a few things to think about.

Furry friends

Let’s face it: owning a pet can be a messy endeavor. Dogs and cats both can end up doing damage to furniture or other fixtures in a house just from playing or going about their day while their human is away. But at the same time, we’ve all had a favorite fuzzy companion that we couldn’t imagine our lives without, so how can we expect someone else to do the same? It all boils down to how lenient you want to be – maybe you only allow cats and dogs are a special exception, or vice versa – and what of your personal possessions you’ll be leaving behind for renters to use. Then you can weigh your options and decide whether allowing pets or not will be the best decision for your beach house.

College kids 

While the idea of raucous college parties may make you want to bar anyone younger than 22 from your rental, consider the alternatives before you set it in stone. We all know you can’t assume that every student will definitely trash your house that first weekend, so it’s all about the individual. Here at Intracoastal Long-term Rentals, we screen applicants and talk with them to get a feel for not only what they’re looking for in a rental, but also what sort of tenant they’ll be. And don’t forget that if your home is located in Wilmington, you could be missing out on the opportunities that a college town brings – if you narrow down your pool of potential renters to exclude such a prominent group, you may have a while before you’re able to find a renter.

Number of occupants

This category is totally dependent on the size of your house and the type of space you have to work with, but we can help you decide what your home can handle when you’re ready to list it online.

Décor

Some renters like to customize their space and make it their own. Will you allow nails in the walls for hanging artwork or family photos? Are you absolutely against painting or any type of redecorating? It may seem trivial when you’re getting started, but answering these questions now will help make listing your house and choosing new tenants that much easier in the long run.

We know it seems like the to-do list never ends when it comes to managing a rental property, but the experts at Intracoastal Long-term Rentals are here to help! Contact us to get started, or just to talk over you and your home’s options.