Suffolk, VA · Member since 2014 · 6 posts · 0 votes
Hello everyone. I recently moved to SC for work, but I have a home in Suffolk, VA. I want to rent it out but I am not sure where to start. I am trying to find information on how to list my home, screen tenants and drafting a lease agreement. I want to attract the best possible tenants, so I have painted, laid new carpet, and new bathroom light fixtures, but I am curious when upgrades becomes non profitable. Based on the market, I can't afford a property manager so I will be my own property manager. is this is a good start? Any information provided is helpful. Thanks Michael and landlord newbie!!!
You are new to real estate land lording so it will be a learning curve. It can be a risk cause you are doing it from long distance and may end up costing you more money than if you hired a professional land lord. It's not impossible though. Here is a link that will help you with being a landlord. Hope this helps you some
I usually start out by taking pictures of the property and listing it on Craigslist, Hotpads, and Trulia. Make several ads on Craigslist and update the ads every other day.
Set an open-house date every weekend or every other weekend to show the property until it is rented. Most lease agreements you will find online will be good enough but you will need to educate yourself on how to evict a non-paying tenant if you haven't already.
Check rental history at a minimum by going on the district court website or using beenverified app on your smart phone. I sometimes approve people on the spot after I check their rental and criminal history on my phone.
I usually avoid carpet because it usually doesn't last long inside a rental.
If the house isn't rented after a couple of months and there has been little or no interest, you will probably have to lower the price.