Before leasing your property, it is necessary to confirm that everything is good. Second, it is crucial to do a deep cleaning. This will ensure the property is in an impeccable state.
Leasing a property is very demanding, especially here in the city of Chicago. So it is recommended you hire cleaning services in Chicago. Doing so will give you more time to organize other vital aspects of leasing your property.
Here is a list of things you must do before leasing your property:
- Documents and payments in order.
- Physical characteristics of the property: Check the condition of the walls, doors, and windows, the state of the tiles, and electrical outlets.
- Plumbing: Look at the condition of the faucets, the shower, and the toilet.
- Cleanliness: Make sure you or your past tenant conducted a move-out cleaning. This usually involves a deep clean, not just your standard cleaning. Remember, the property must be impeccable. If you don’t want to do this, hire the best move in cleaning service In Chicago.
Pros and Cons you need to consider before Leasing Your Property
We all know it’s a balance between benefits and losses. It can be rentable but also have lots of risks to have your property in the hands of others. Listed below, you will find the pros and cons of renting your property.
Pros of leasing your property
Income of Tenants
The # 1 benefit of owning a rental home is the opportunity to earn extra income. You don’t have to spend the rest of your life working if you have rent. If you get a responsible tenant, your life will be more comfortable.
Revenue from the growth of the value of the property
At some point, the rent price can increase due to demand, so your income may increase as a result. If your tenant pays his bills on time, your expenditure will become an investment.
Improving the property’s infrastructure will allow you to sell it at a better price in the future or increase your rental fee. A good investment can get higher retribution.
You have the ownership, you put the rules
If you need to assure that your tenant maintains the apartment clean for you, set a cleaning fee for the space and hire Chicago moving house cleaners so you can avoid any risk.
The disadvantages leasing your property
Concentration of assets
A disadvantage of investing in a rental property is that owning a rental property is a severe concentration of your assets. So, you will be going to pay more taxes for that.
Sometimes the tenants will not pay their monthly payment on time which will delay the payment of expenses that you have to cover. But, the higher risk is to find a person that doesn’t care about your property and damages it without fixing it or paying for reparation.
Taxes and fees and insurance
Despite placing your property for rent, you will have to face the costs of taxes and property insurance.
How clean is your tenant?
Your tenant can make a mess of your property or maintain it clean. You have no guarantee, so don’t hesitate to convince him to hire our move out cleaning company in Chicago to avoid that risk.