If you are planning on renting out your Florida home this summer, you will want to make sure you take the proper precautionary steps to protect you and your tenants.
1.) Get legally cleared
One of the first things you should do before renting out your home is to make sure you are legally able to. There are many restrictions and laws surrounding home rentals in Florida so make sure you are aware of the state and county laws applicable to your property. Equally, you may need to acquire a specific renting license before you are cleared to rent your home. This license is imperative to making sure your home is up to code and properly insured. If you do not have the specific license your county requires before your guests move in, you could be facing steep charges.
2.) Find the right tenants
While this might seem like a rather obvious step it is an important one. If you are renting out your home for someone to live in you want to make sure you trust that person to take care of your home. Having disruptive or disrespectful tenants can end up costing you more in the long run and could turn you off from renting all together.
Make sure you have a complete and thorough vetting process in order to protect yourself from a possible bad renter situation. When deciding which tenants you would like to rent your summer home, make sure to ask for references and a credit check. As much as you want to make sure your renters are personally responsible people, you always want to make sure they are financially responsible as well.
3.) Prepare your home
Before you have renters move in for the summer, you want to make sure you securely and safely pack away all valuables. If there is something that is special to you in your home that you don’t want to see stolen or broken, then pack it up and put it away. While you should be confident in the tenants you have selected, accidents happen. To ensure you don’t lose anything of significant value it’s best if you err on the side of caution and put it into storage.
Equally, you will want to take pictures and keep thorough records of the state of your home before and after the renters move in and out. This will help you assess any damage or wear and tear your home has endured while renting it out. It is also helpful to have an inspector come in and do a once over of your house. It’s important this inspector focuses on major appliances such as the water heater, electrical system, AC unit, plumbing, and so on. This will help you better assess where to set your rent price and how big of a security deposit to request.
4.) Insure your home
Before you rent your home you want to make sure you as a renter, your tenants and your home are insured. Renters insurance for all parties involved comes at very affordable rates and protects you against insurance claims and legal action. If you are interested in renting out your home and need renters insurance in Martin County, check out Triple L Insurance.
