Are you considering renting out your residence? There is currently a high demand for rental properties. Renting out a property allows you to quickly pay down a mortgage and sometimes, collect a profit as well. However, renting out a property does require some amount of work. State laws require that you provide a safe and healthy residence to tenants. Additionally, tenants expect certain features in a house. As you prepare to rent your property, remember the following important housing features.
Safety is extremely important
Not only do tenants expect a safe residence, you are also required legally to provide a safe living place. You can ensure that your residence is safe enough for renting by doing a walkthrough. Pay attention to any parts of the house that may need to be improved before renting it out. Common problems include electrical, foundation, or plumbing problems. It can also be beneficial to hire an inspector to do an even more thorough inspection of the house. It is also important to understand that a tenant also has the legal right to not pay you rent in the event that there are unsafe features within the house.
Good amount of storage
Storage is a common need of both homeowners and renters. If you can find ways to add storage or market your current home?s storage, you are also likely to improve your rental chances. Renters especially have a lot of belongings that they need to bring with them and require storage for these items. If your house is currently limited on storage availability, spend a weekend of DIY work building closets and hidden shelving units. Your renters will appreciate the increase in storage availability.
Moderately priced housing materials
Your home?s design and materials are what set the price of rental. It is important to know your market and what houses are currently renting for. Generally speaking, you do not want to put too high quality of materials in your rental property because you can easily price out the market. Renters tend to care less about materials, because they are not purchasing the house. There is also an increased chance that you will have to replace materials as old renters move out and new renters move in. Utilize moderately priced housing materials like suspended ceilings, acoustic ceiling tiles, and ceiling clouds.
Block out neighboring sounds
Privacy is another concern of renters. Not only is it important to give your renters privacy, but you also want to block out any neighboring sounds. Houses that are located directly on busy roads or nearby railroads may require additional noise blocking techniques, such as suspended ceilings or sound isolation wall panels. Acoustic building products are a great method to increasing privacy and reducing nearby noises.
You also don?t have to sacrifice design and overall look for privacy. Decorative acoustic ceiling tiles are perfect for blocking the noise, while also keeping a modern look to the house. The process of soundproofing a room is accomplished using a combination of 4 tactics, Adding Mass, Damping, Decoupling, and Filling Air Gaps. When you are using acoustic wedges panels, it is recommended that you purchase 12 X 12 panels with a 2 inch depth curve relief. These do well to absorb low to high frequencies. Some panels come already with an adhesive panel, for easy installation. These sound blocking techniques are great for marketing your house, as community noise can be detrimental to health. Adverse health effects include cardiovascular problems and learning deficits. Studies indicate things like suspended ceilings can reduce the incidence of heart disease increases as community noise levels rise about 40 decibels (dB).
Renting your property to a tenant can be a great financial investment. However, you will need to consider your tenants needs and how you can provide them with a safe and comfortable house. It is your responsibility to make timely repairs, price the house according to the market, provide storage, ensure safety, and give a sufficient amount of privacy with methods like suspended ceilings. Always keep your tenants needs and comfort in mind.