10 Common Mistakes When Converting Homes to Rentals
1. Leaving Home Security Systems Like “Ring” Activated on the Property
Owners can help create a feeling of privacy for the tenant by removing any systems or devices that could be used to monitor the property. Tenants might feel uncomfortable if the owner still retained a way to communicate or see what was going on at the property. Although tenants might be able to have these systems set up in their name, it just adds one more item to the list that could require additional maintenance or troubleshooting. Before PMC begins managing your property, we ask that you turn off or deactivate your alarm system. Although these devices are great for adding peace of mind to your personal residence, there is not enough of a benefit to keep them in your rental property.
2. Not Removing Smart Thermostats and Lock Technology
A “Nest” thermostat attempts to “learn” the schedule of the home occupants, however in a roommate situation, the “Nest” can be self-defeating due to tenants constantly coming and going. By not having smart lock systems, owners can avoid paying costly repairs in the event of those systems failing.
3. Storing Personal Property on the Premises
Prior to home being listed for rent, the home and any storage sheds should be completely empty. Storing your personal property at or on your rental property can erode your tenant's comfortability and peace of mind. Additionally, it does not allow the tenant to make the fullest use of the property, which could affect the rental performance of your property.
4. Not Matching the Rental Rate to the Appliances
One way we have ensured optimum performance for our owners is by staying knowledgeable about what features can boost how your property performs. Appliances are one of the easiest ways to attract tenants to your property at a higher rental rate. If you choose not to upgrade your appliances, be sure the quality and age of them match your rental rate.
5. Leaving Bedrooms or Closets Locked
It is important to remove any keyed locks in your rental such as those to bedrooms and closets. Tenants should have access to all areas of the rental so instead, swap out the keyed locks with regular doorknobs.
6. Not Removing Home Entertainment Equipment
Be sure to remove any home entertainment equipment from the property such as TV mounts or pool tables. The tenant is moving into the house to make it their own, and it should be as easy as possible for them to do so.
7. Coordinating Lawn and Pest Care
As we take over the managing of your rental property, PMC will coordinate any lawn or pest care with our vendors, so you don’t have to! Be sure to cancel any routine lawn or pest care you currently have setup so you don’t pay extra for those services.
8. Leaving Damaged or Crazy Colored Walls
When converting your home to a rental, be sure to repair any holes in the walls and paint all rooms to neutral colors. Fixing holes in the wall and applying neutral paint will help your property show better for prospective renters.
9. Forgetting to Forward Mail
It’s a hassle for both the owners and tenants when the owner’s mail continues to be sent to the rental. You can easily go to the United States Postal Service website and submit your new address.
10. Not Leaving Garage Door Openers or Mailbox Keys for Tenants
Make sure that you don’t forget to leave any garage door openers, mailbox keys, or pool keys (if applicable) for the tenant. Doing so can prevent having a frustrated tenant who is not able keep their car safe in the garage, access their mail, or utilize the pool during those hot Nashville summers.
For questions about transitioning your home into a rental, email firstname.lastname@example.org.