Leasing Out Your Modular Home

You love your modular home but your husband has been reassigned to Albuquerque. Now you have to move and you don’t want to say goodbye to your little slice of heaven. The only way to afford the move without letting your gorgeous modular go, is consider leasing it out. But how do you prepare to allow someone else to live in your precious abode? And, how do you know who to lease it to?

We’ll describe several steps necessary to prepare your home for rental. However, when it comes to checking on potential tenants, we recommend that you visit: https://www.verticalrent.com/. There are a number of articles on that site that offer advice for making sure you get the right people in your home. After all, it is significant investments you can’t afford to have someone destroy.

Leasing Out Your Modular Home

Before You Put up the Sign

Now that you have some instruction as to how to pick the right tenants, it’s time to prepare your home. We know you will miss it but if you are comfortable with the people who will be living in it then you’ll be far more pleased with the process. Here are six steps to help you get ready for someone else to live in your modular home:

  1. Inspect: Once you have everything out of your house, go around and inspect all the plumbing and outlets. Fix any problems you discover. Make sure the faucets don’t leak and the breakers are all in the proper positions. Check the well and septic too (if you have one). Ensure that your floors are good and strong. Repair any weak areas. Here are some DIY tips.
  2. Safety: Your renters are going to be far more comfortable in your home if they know it’s safe. Go through the house and replace batteries in smoke detectors and add a fire extinguisher (or 2). If you have an alarm system get it prepared to be switched over to the tenant’s name.
  3. Clean: No one wants to move into a dirty house. This is your opportunity to increase your home’s value to a potential tenant. You should shampoo the carpets, clean blinds and wash windows. If it’s been a while since you painted, do that now, in a neutral color so that people won’t have a hard time using the furniture they already own. If you’re not sure which colors are best, read this.
  4. Evaluate: If you opted for the extra expensive Moen faucets when you built your modular home and you’re afraid someone might see them as an easy way to make money, take them with you. You can always replace them with significantly cheaper versions. Also evaluate the condition of your appliances. If they are functioning at optimum capability clean them and leave them. However, if there’s the potential that you might have to fly back to replace something, go ahead and do that now to save yourself the hassle.
  5. Paperwork: All home deals have paperwork attached. You need to determine how you will handle the rental process, by yourself or through an agency. Then you need to let your mortgage and insurance companies know this home will no longer be your primary residence. Finally, figure out what your home’s rental value is (you can learn about that here) and put up that sign!

You should start expecting calls the day you put the sign in your yard. Be prepared to do the tenant screening and then enjoy leasing out your modular home and your new Albuquerque residence.