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Renting Out Your Home While Traveling: 5 Tips for Making Money

1. Decide how much to rent

Before you put your house up for rent, do your research and find out how much people are willing to pay for a similar property. Consider making improvements to increase its value, such as energy-efficient upgrades, fresh paint, and kitchen or bathroom remodeling.

2. Consult real estate experts

Working with a property management company can make the process less stressful. They have the expertise to navigate the market and find the right tenants for your property. Make sure they understand your requirements and negotiate their services in advance.

3. Use online renting platforms

If you prefer to rent on your own, list your property on popular rental websites like Zillow. Include captivating images and all necessary information for potential tenants. Make yourself accessible and provide contact information for inquiries.

4. Explain how things work

Ensure that your tenants understand how to use and take care of your property. If your home is fully furnished, explain how electronics and other household gadgets work. If you work with a management company, communicate your expectations to them so they can inform the tenants.

5. Set house rules

Establish clear rules and regulations for your tenants to follow. Discuss these rules before renting out your home and find tenants who agree to abide by them. Include rules regarding pets, maintenance, cleanliness, lease renewals, and payment deadlines.

By renting out your home while you travel the world, you can make money and ensure your property is taken care of. Use these tips to get started and find the right tenants for your home.

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