Tips on renting out your house

Roughly 4 out of 10 homes in US suburbs have renters as residents. If your unit is among those homes — or soon will be — here are some tips to aid you, your renters, and the association. 

- Talk to the Manager

The association manager can provide vital information about what the association expects of owners and renters and tips regarding the rental process that will be greatly useful, particularly if you’re a first time lessor. The manager has sample leases you can refer to, and copies of the association rules to provide your tenants.

- Check the Documents

Ensure you comply with the association’s ruling documents—the bylaws and CC&Rs. They might include special demands for nonresident owners who lease their units.

- Educate Prospective Tenants

Make sure you inform would-be renters about the special particulars of living in a community association before they sign a lease. The association will be glad to provide you a copy of the rules to give to them.

- Use a Lease Addendum

Doubtless you’ll have your renters sign a lease. Please affix an addendum to your lease that goes over the particulars of the community association and insists that renters stick to association rules. This is crucial because it affords you and the association a method of enforcement. A proper lease or lease addendum should reinforce the community by:
-- Obligating the tenant to follow the bylaws, rules, and regulations of the association. (Affix copies!)
-- Obligating the tenant to pay fines for broken association rules.
-- Obligating the tenant to leave if community association rules are broken repeatedly

- Keep the Association Informed

When the lease is signed, provide a copy to the association manager or a member of the board. The more information you can give about your renters, the greater success they will have fitting into our community. Please give the association the information listed below:
-- Renter’s name (as well as those of children and/or roommates) and phone number.
-- Renter’s email address, employer, and any other relevant details.
-- Renter’s vehicle description & license plate numbers. This will permit us to give parking information.
-- How many/what sort of pets, if any.
-- Your forwarding address and phone numbers.

- Encourage Tenants to Participate in the Association

Be the voice of your tenants with the association. Ensure they have use of the recreational and parking areas and that they hold the keys and passes they require. Please provide them with the name and phone number of our association manager.

Although tenants have no direct say in association matters, they are a valuable component of our community. Make them feel accepted, give them information that will help them get to know the association, and inspire them to join in community activities at every opportunity. Today’s renters might become tomorrow’s owners, perhaps even board members. The more effort we all make to bolster a sense of fitting in for renters, the more constructive and fruitful the leasing experience will be for all.