Relocating to a new home is an exciting adventure, but for homeowners, it does pose some issues. The main challenge is what to do with your old property.
With many sellers facing market uncertainty, including potential price drops, many might consider alternatives to putting their old home on the market.
One approach is to keep the property and rent it out by listing it on Homelike, which specializes in finding tenants who want to stay longer than 30 days. Renting out your home means you still own and are responsible for it, but someone else lives in it, pays you rent, and covers the cost of the bills unless stated in their contract.
If you’re renting out a property you used to live in, you might need to make some changes and run some checks to ensure that your home is ready for its new inhabitants.
Here are some of the simple ways you can adapt your former home and prepare it for your new tenants.
Get An EICR (Electrical Installation Condition Report)
When you’re renting out your home, you need to make sure that your property is safe and show your potential tenants that you have taken every precaution necessary. One useful document to show them is an Electrical Installation Condition Report (EICR). Hexo Electrical Testing offers EICRs that can show your potential tenants that you’re dedicated to keeping your home safe.
Have The Boiler Checked
Another important test you need to conduct is a boiler check to make sure that it runs effectively and is safe. If you have a gas boiler, then you’ll need to use an engineer who is Gas Safe certified. You’ll need to have the boiler checked each year by a boiler expert who can ensure that it’s running correctly and doesn’t pose a danger to your home and its inhabitants.
Choose A Neutral Colour Scheme
Neutral colours will help your potential tenants to see the potential in your home and will give you a good canvas to enhance with furniture, removable décor and home accessories. So, if your current interior design choices include bright colours and bold patterns, then now’s the time to reconsider. It would help if you tried to create a neutral colour palette using white, cream, pale grey and other neutral shades.
Paint Walls Rather Than Use Wallpaper
When it comes to the question of wallpaper vs paint, there are many factors to consider. For homes that are going to be rented out, paint is usually the best option, as it’s more cost-effective, easier to clean, and quicker to do. Wallpapering takes a lot of time and skill, and it can be difficult to line up the patterns. As such, if you have wallpaper in your home, you should consider removing it and painting the wall instead.
Consider The Furniture And Appliances You’re Going To Leave
Most rented properties come unfurnished but with some major appliances like cookers, while others come partially or fully furnished. If you’re moving to a new property and want a fresh start with brand-new furniture and appliances, then you might want to consider leaving some of your old furniture behind.
As long as the items are in relatively good condition and perform the function they’re supposed to, then you can leave them in the house, particularly if they’re large everyone would need like fridges, sofas, and beds.
Still, you should consider if tenants would want these items or if they might prefer to bring their own. If you don’t want to take the items with you but aren’t sure if they’re worth leaving behind, then consider donating them to charity or selling them online to make some extra cash to spend on your new home.
Deal With Any Structural Issues
Any major problems in your home, such as dampness or mold, leaks, and cracks, need to be dealt with before you rent out your home. These problems are your responsibility, as you still own the property, and so you need to make sure you deal with them proactively.
If you put the property up for rent before you deal with these issues, then you might struggle to find tenants who are willing to move in, and if you do, then they will probably expect a reduction in their rent. So, it’s best if you fix any problems before you put the property up for rent. If you can’t do the work yourself, you might need to hire a professional, but this cost will be offset by the potential rent that you could make in the future.
To Sum Up
Most family homes need to be changed before they can welcome tenants, even if you’ve always kept your property in good condition. This article offers insight into what you need to consider and will allow you to find inspiration. You can then renovate your former home and turn it into the perfect space for any tenants.