Renting out a house might seem easy uncomplicated task but there several paperwork that you need to make sure you go through to ensure correct legal procedures. Renting out a place you own is actually a business venture for you if look at it properly. You will be earning something so just any business venture that requires paper work, renting out a house too requires paper work. Here few things you have to do before giving it out for rent.
You never know what your tenants will do after the rent your place because of this you need to get yourself a landlord insurance it is also known as rental property insurance. This insurance protects your house from any major damages that would be caused by the tenants who would be occupying the place. Make it clear to the tenants that the insurance only cover the house and not any personal items such furniture that belong to the tenants itself.
Get your paper work ready. You may hire an account and lawyer to calculate all the taxes involved in this transaction. The accountant help forecast the amount of tax that you will have to pay. While the lawyer will make sure the lease agreement covers all necessary aspects. The agreement will state everything from top to bottom what can and what not can be done by tenants while using the house. This would be coming under the criteria for the tenants. How much of monthly income and certain policies regarding smoking or pets that you would want to include should be added in this area. The lawyer will make sure that you are properly informed of what policies you can make. With that all the paper work will be completed.
Finally before giving out the house you need to make sure you hire house cleaners and do a thorough reliable house cleaning. You may do it yourself but it advisable to let the professionals do it. Remember always make sure you give the tenants a look around before and after the purchase so that you list down any maintenance problems before hand and not have calls every night with complains. Having them written down puts both parties on the safe side.
If possible give a good coat of painting before handing it over so that the house looks new. It will brighten the house and the chances of them being satisfied with the contents of house. Maybe give a few upgrades to attract better tenants in the future make sure hygiene is at optimal level as that is one of the main things people look in for a house. Visit this link http://www.laneescleaning.com.au/builders_cleaning.html if you are looking for after builders cleaning.