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Do's And Dont's Of Renting Out Property

Renting out your property can prove to be a great way of adding to your finances. However, you need to keep certain things in mind before you rent out your property to someone. You must be aware about the laws laid down by the government regarding the protection of landlords and property owners. If you have a home in Killeen Tx, then you must surely read on to know what all things you need to take care of:

  • Checking the trustworthiness of the prospective tenant is a must. Make sure you verify this by using the requisite methods.
  • Checking the credit score of a tenant will help you in determining whether a person will be able to pay the rent on time or not.
  • Getting in touch with the previous employer as well as landlord will give you a lot of vital information about the prospective tenant and his general behavior.
  • Police verification of the tenant is a must to save yourself any legal trouble later on. Any criminal records will come to light when you get the police verification done.
  • The terms and conditions of renting out your property must be clearly mentioned in a well-defined agreement. Get this agreement signed by the tenant before you rent him the house. Also, mention what all items you are going to rent along with the rent amount etc. Also, if you have any specific tenancy period in mind, make sure you clearly mention it to the tenant in written.
  • Do not ever give your house on rent to a person who refuses to undergo police verification as it can prove to be dangerous later on.
  • Keeping your property in a bad condition can make prospective tenants shy away from moving into your home.
  • Do not visit your tenants unannounced as this might irritate them unnecessarily. Keep a regular check but make sure you do not disturb their routine.
  • All the written formalities must be followed before you rent out your house. If the renter that you have finalized refuses to sign on even one of the papers, do not rent him your house.
  • Do not rent out your property to a person who does not have a secure job or will be unable to pay the rent on time.
  • Don’t forget to get your house insured so that it remains protected in case of an unfortunate incident.

For best deals on rentals in Killeen Tx, visit us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699- 7003 or (254) 290-4153.

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