• Leasing your Beverly Hills home •

how to best Lease Your beverly hills Home

ready to Lease Your Beverly Hills home?

Being a homeowner in Beverly Hills is a luxury very few people can afford. Hence, as the time to sell your home approaches, you are likely to feel stuck when you can’t find a buyer despite continuous efforts. In such situations, the best thing to do is to lease your home.

If you’ve decided to lease your home in Beverly Hills for the first time, you will feel overwhelmed at first. Follow our step-by-step guide to understand how to lease your home and protect your property at the same time.

Preparing To Lease Your Beverly Hills Home

Most residents in Beverly Hills are looking for leased housing because of the increasing costs of buying a property. This has resulted in a huge market competition for leased properties. Since leased homes are available in abundance now, the tenants have become picky about details. You must, therefore, prepare to lease your Beverly Hills home in a way that it appeals to your target market. Some of the ways to make your home stand out include:

  • Re-painting your walls with neutral colors
  • De-cluttering the living spaces and remove any valuable items that belong to you
  • Getting a pre-lease maintenance check done and repair anything that needs fixing
  • Sweeping your floors, clean the windows, and spray for any insects or pests
  • Checking all the electrical appliances

Prepare Yourself

The idea to lease your home in Beverly Hills may not be too pleasing in the beginning. If you are attached to your property, being a landlord will not be an easy job. So before you move forward with the process to lease your Beverly Hills home, prepare yourself to hand over your house to someone else. You can do so by talking to friends or family members who rented their homes, and learn from their experiences. Alongside this, you must also:

  • Consider the benefits and drawbacks of leasing your home in Beverly Hills
  • Know the obligations that apply to you as a landlord
  • Educate yourself about the legalities of leasing a property
  • Check if you have enough budget to pay for necessary repairs

Determine the Rent

When deciding how much to charge to lease your Beverly Hills home, ask around to see the average lease rates in your area. You should also consult online resources or newspapers to set up a market-competitive lease charges. Don’t be too harsh or too lenient: the lease payment may be lower than your mortgage payment, but a good and consistent paying tenant will be worth it.

Find a Good Tenant

There are many ways of finding tenants. However, the most effective way is to hire a real estate company that has knowledge of the local leasing market. The company will not only market your home but also carry out the tenant’s background checks and manage the legal process of leasing your Beverly Hillshome. Ensure that you check for any criminal history, credit reports, and recommendations from their previous landlords (if any).

Protect Your Property

Make sure that you have a detailed written lease that clearly outlines the obligations and rights of each party. Ideally, it should spell out as many things as possible to avoid conflicts in the future. Don’t forget to protect your property using the correct insurance policy. The policy that applies to a property on lease is different than the one that is your primary residence, so check with the insurance company to understand the new terms of the policy. For more details on how to best lease your Beverly Hills home or for current listing, please see our Beverly Hills real estate information page here.

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