Real Estate Tips From a New Homeowner

If you're going to be traveling during the holidays, you should rent your home out while you're gone. Renting your home to other holiday travelers is a great way to make sure your home doesn't sit vacant while you're gone. It's also a great way to make some extra cash during the holidays. Many people have begun renting their homes out while they're gone. In fact, there are numerous online sites that allow you to rent your home out to people who are looking for something other than a hotel to stay in while they're on vacation. If you decide to rent your home out during the holidays, here are a few steps you should take to help you avoid possible problems.

Make Sure You're Covered

If you're going to be renting your home for the holidays, make sure you're covered for damages or loss. Most home owners policies won't provide protection for loss and damages incurred during short-term rental. However, there are insurance companies out there that will provide insurance packages specifically designed for short-term home rentals. They'll not only protect your home and belongings against damages and loss, but they'll also provide protection for you should you decide to rent a home elsewhere during the same time.

Conduct a Safety Inspection

If you're going to have renters in your home while you're away for the holidays, you'll want to make sure that your guests are going to be safe. That's why it's important that you conduct a safety inspection before you leave. Make sure that your smoke detectors are working properly, and that you have fresh batteries in them. You should also test your carbon monoxide monitor. If you don't have one of those in your home, you should have one installed before you leave. You can pick up affordable carbon monoxide monitors at your local home improvement center.

Put Your Important Papers Under Lock and Key

If you're going away for the holidays, and you're going to rent your home out, be sure to put your important papers under lock and key. You never know when someone is going to start snooping through your drawers while you're gone. The last thing you want is for them to find enough information to steal your identity. Even if they didn't rent your home with the intention of defrauding you, don't increase the temptation by leaving important documents out for them to find. Instead, invest in a sturdy lockbox, and place everything inside that.

Go Through an Agency

If you've decided to join the throng of people who rent their homes out during the holidays, eliminate the work and go through an agency. A reputable rental agency will handle all the work for you, and make sure that potential short-term tenants are fully, and properly vetted.