One way you can make some extra money is by renting your home out. Atlanta, Georgia, is a movie mecca, so it’s easy to find projects that need a location.
When you take a look at your home, you may not see extra money, but that’s exactly what it can be. All you have to do is rent your your home for services that are in demand.
One thing that may be in need near you are filming locations. Your house no doubt is the largest purchase you’ve ever made. Now it’s time for the big pay back.
Check out these ways that you could rent out your home to earn extra money.
How To Rent Your House To Earn Extra Money
Not only are these methods fairly easy in a city like Atlanta, but this can work in any city in America.
Let’s look at five steps you must do to rent your home and be successful:
1. Make Sure You’re Landlord Material
It may sound strange, but just because you have a home for rent doesn’t mean you’re a good landlord.
It’s actually a lot of work, especially in the beginning.
Lots of legal paperwork as well as physical labor.
Of course, you can always hire a property manager. That will drew up your time and mind, but that will also eat into your bottom line.
Here are some of the tasks of a landlord:
- Take care of repairs
- Handle all maintenance
- Pay insurance & property taxes
- Collect rent
- Get along with the tenant
If you’re up to the tasks, you can make some real money by renting your home.
2. Clean Up
The first thing you’re going to have to do is get your home professionally cleaned or gather some friends and family for a big scrub-down.
Only with a thorough cleaning can you see what kind of condition the home is in. Only then can you see how much rent your house can fetch on the open market.
You will want to scrub baseboards, mop floors, wipe down walls, blinds and wash curtains. Once it’s all clean, you may decide to make some modest improvements.
3. Upgrades
If you have some fixtures or appliances that work but have become dated, you may choose to upgrade them.
We’re not talking about major upgrades, but smaller DIY projects that could modernize the space and persuade people to stay there.
A fresh coat of paint to a room or two is just one suggestion. Here are some nice touches you could add:
Diamond Brite Paint 31150 5-Gallon Oil Base All Purpose Enamel Paint Grey – $109
Solar Lights Bright Pathway Outdoor Garden Stakes – $56
Buy It
4. Market Your House
Now it’s time to market your house to see if you can rent it out. Make sure you use words like “gourmet,” and “amenities.” Of course, always be honest in the descriptions you use.
Of course you could post some flyers in the surrounding area, but today it’s way easier to market online.
What Is The Best Website For Rental Homes?
Here are some of the best sites to list your house for rent:
Believe it or not, some Realtors will help homeowners to rent out their homes. Of course, the agent will charge a commission.
5. Choose The Right Tenant
The best experience you could possibly have as a landlord has everything to do with choosing the right tenant.
If you rent your home to someone that likes to throw parties all the time, or is a smoker, or takes in rescue animals, you may Ed up regretting it.
It’s mandatory that you screen all potential renters by running a background check. In addition to verifying employment and credit history, you should also ask for multiple references.
And note: For security reasons, all of this should be done before you meet them in person.
Last Thought
Renting out your home is one of the biggest financial decisions you can make.
I’d highly suggest you familiarize yourself with state tenants rights and landlord rights so you know how to operate within the law.
By doing your homework and due diligence, it can be a profitable endeavor.
Up Next How To Make Money From Home
Atlanta has one of thebest real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here.