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Maximizing ROI: The Ultimate Guide To Renting Out Your Former Home
Manage episode 376733509 series 3375927
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Mat Zalk is the President and Property Manager at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, and Arkansas. He focuses on the acquisition and management of single and multifamily residential properties on behalf of himself and a small network of investors.
Before founding Keyrenter Tulsa, Mat was a Strategy Director at The Property Finder Group, where he worked closely with the CEO and senior management team on various international acquisitions, scaled local teams in the group’s Saudi Arabia and Egypt offices, and executed a number of strategic projects in the business’ core market of Dubai. Mat has been an active investor since 2014 and is a licensed real estate agent in Oklahoma.
In this episode…If you’re considering moving but find yourself locked in a 30-year mortgage with a favorable interest rate, renting your home is a viable alternative. This positions your property as a long-term asset but requires meticulous planning and strategizing to obtain a high ROI. What should you know before renting your house?
As a seasoned property manager with experience renting his home, Mat Zalk lists four key actions every homeowner should take before renting. Preparing to lease your home requires maintaining the interior and exterior by investing in landscaping, fresh paint, and updated flooring and cabinets. When completing renovations and maintenance, you can hire a property manager to help you budget and prepare your home. Additionally, you must assess similar rentals in your market to determine an ideal price point based on size, upgrades, and amenities. The rental process comes with various legal regulations, including a leasing agreement outlining the landlord-tenant relationship and laws governing rent increases, fees, and evictions.
Join Mat Zalk in today’s episode of The Same Day Podcast as he talks about how to increase profitability when renting your home. Mat explains the importance of refurbishing your property, evaluating your market for pricing structures, and developing a financial planning strategy.
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