Renting out Your Family Home

Many homeowners in New Jersey are choosing to rent out their homes rather than sell at a loss. Before you turn the family home into a rental property you may need to inform your local authority, mortgage lender, and New Jersey homeowners insurance provider about your plans to rent out your house. You may also want to consider making a few cosmetic changes that could attract tenants who are prepared to pay you a higher rent.

Stand across the street from your house and try to see it from a stranger’s perspective. Does the paintwork look dusty, is the garden overgrown, or is the gate hanging off its hinges? Things like these are the first impressions your house gives, so it’s important to attend to any weak spots in the presentation of your home. Doing this may not require you to spend a lot on paint or repairs; for example, if paintwork is looking tired, you may be able to bring back its sparkle by cleaning with a pressure hose.

Next, look at each room in the house and consider what you can do to improve its appearance without breaking the bank.

  • Inexpensive new light fittings in a bathroom or kitchen can give an impression of spaciousness.
  • A coat of paint can transform kitchen cupboard doors. (You can even paint over melamine if you first apply a spray treatment to the smooth surface.)
  • Freshen up tired-looking wall surfaces by washing down with sugar soap.

Simple cosmetic changes like these have the potential to transform your home’s appearance and appeal. Having made these changes and spoken to you agent about any necessary changes to your New Jersey homeowners insurance arrangements, you’ll be ready to start advertising your home as a highly desirable rental property.