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Checklist for Renting a Home from National Realty Investment Advisors, LLC
Rent out your investment home the smarter way. National Realty Investment Advisors, LLC provides these tips to help you safely rent your house. Get maximum rental profits from your new income property by following this checklist:
Short Listing Tenants Make sure you rent the property to tenants with proven stable employment and a good credit history. Verify employment and pay stubs, get a “tri merge credit report” authorized by the tenant and run full credit bureau reports.
Identity Check Pay for a background check and eviction history. Make sure the ID is real and matches up. Run a thorough identity check during tenant screening.
Thorough Paperwork Get everything in writing with a written lease, terms and conditions required. Have legal counsel obtain a good standard lease document to protect you. Hand over the apartment keys only after all the certified check deposits have cleared, and the legal papers and contracts have been signed.
Security Deposit Don’t rent a property without collecting a minimum one month security deposit – regardless of credit quality. You need that for damage repair or back rent regardless. Make sure the lease defines all items security can be charged for.
Regular Repairs Keep your property in the best shape by undertaking routine maintenance checks and repairs. Proper maintenance and upkeep will get you better rents and keep you in a stronger position.
Make sure tenants sign in writing for a “100% working and all systems operable” home when they move in and agree to repair and maintain the systems and home in good working order other than normal wear and tear.
Insure Your Property Insure your property to deal with any structural, accidental, fire or theft damages. Insurance will protect you from lawsuits so include Loss of Rent coverage for any period the home is ever damaged and liability coverage.
Add Important Clauses All perils of fire, theft, damage should be included with loss of rent coverage. Include at least a $500,000 liability coverage per home. Check your primary carrier for additional umbrella coverage.
Prepare for Additional Work Maintaining a rental property will add additional chores in your to-do list such as rent collection calls, repairs, and tenant assistance. So, if you are going to manage your rental property on your own, make sure you have the time.
Planning to buy another home to rent out? If you are thinking of another real estate investment, then, you should know about the best proven property opportunities and investment trends in the market.
National Realty Investment Advisors, LLC is changing the way high net worth individuals invest in real estate with its absentee owner safe high return property selection and management system.
Hassle-free Property Investment National Realty Investment Advisors, LLC has simplified real estate investment by eliminating the need to “go it alone” and search for property opportunities, develop them, close on them and then tenant, maintain , and project supervise them by yourself.
The firm has made real estate investment super easy with its proven property investment plan that takes the headache out of real estate investment properties and managing tenants.
Consult with National Realty Investment Advisors, LLC Since 2006, the professional team of NRIA has specialized in: Pre-rented investment homes in prime locations. Secure and long term investment returns with over $100,000 of built in equity per property guaranteed. Superb Client support and financial management.
Call National Realty at 201.210.2727 to speak with real estate investment manager. Contact NRIA Website: http://nria.net/Twitter: https://twitter.com/NationalRealty_Facebook: https://www.facebook.com/pages/National-Realty-Investment-Advisors-LLC/439519179451414