Renting your home out comes with a variety of tax benefits to take advantage of, like the ability to write off your real estates taxes as well as your operating costs. But you can't take advantage of those benefits if your home sits vacant for too long. Part of successfully attracting tenants is making sure that your home is reliable, comfortable, and safe. Here are five inspections you should complete before renting your house out to ensure your home's worthiness:
The Electrical System
It's essential that your electrical system is in good working order to eliminate serious accidents, and to maintain convenience and comfort when it comes to everything from turning on the lights to cooking a meal on the stove. Many common issues could be present and left unnoticed such as obstructed entrance wires and damaged GFCI outlets, and a professional can quickly spot these so they can be repaired before becoming too serious or costly. A passing inspection may even get you a discount on your home's fire insurance rates depending on which insurance company you work with. To get your electrical system inspected, contact a company like All American Air & Electric, Inc.
Insulation in a home is very important because it helps regulate indoor temperatures and protect walls, doors, and ceilings from weather damage. A properly insulated home will help your tenants maintain affordable energy bills, minimize outdoor noise pollution, and decrease the chance of pollen and allergens entering into the home. Having a professional inspect the insulation in your attic and basement will help to catch any performance inconsistencies and offer an opportunity to add insulation filler where necessary. Your service provider should also be able to insulate your doors and windows with spray foam insulation for a minimal cost before leaving.
The HVAC System
When something is not performing properly within your rental home's HVAC system, it works harder than it has to and puts extra wear and tear on the components that are working properly. The result can lead to costly repairs or the need to replace the system altogether. A poorly working HVAC system isn't very impressive to renters because comfort during all seasons is expected when an air conditioner and heating system is available. In addition to a basic inspection, have your service provider clean and reset the supply registers and air plenum as well as adjust and reinstall the blower motor.
The Insects and Termites
Nobody wants to share their home with insects, rodents, and termites so you'll want to ensure that they are all eradicated before you start showing the home to prospective renters. Unwanted pests and termites will also destroy your home, and therefore its value, if left unchecked for too long. Have your home inspected for pests a couple of months before you put it on the rental market so there is time to complete needed treatments and air the place out before people start showing up to take a tour.
The Roof and Gutters
A roof that isn't properly inspected and maintained on a regular basis may only perform for half the length of time it was designed to. And you just may find that your roof warranty is voided if you don't keep up with maintenance. Ensuring that your roof doesn't leak, sag, or show signs of disrepair will make potential renters feel confident in your home's ability to keep them safe even during harsh weather conditions. Your gutters should also be inspected to make sure that they won't drip water against the house during rainy weather, causing water damage over time.
Keep the receipts of all your inspections so you can show them to prospective tenants as proof that your home is in good shape. It's a good idea to continue the inspections yearly for optimal performance and protection. You may be able to incorporate the inspection fees into the overall yearly rental costs of your home.Share
2 July 2015
For years, my wife and I debated on what we wanted to do with all of the spare land in the back of our house. We were lucky enough to buy a house on an extra-large lot for a great deal, but the land was "going to waste" for quite a while. One day, we finally decided to have a guest house built on it, and now that the house is finished, we wish we had built it long ago. We are now renting it out for some extra income, and it is helping us save for retirement. I have always been fascinated by construction, so I enjoyed watching the professionals build the guest house and learned a lot during the process. I decided to fill some free time by blogging about the experience and sharing some construction info I learned during the process. Come back soon!