New Landlord Checklist: Renting Out Your Virginia Home

Renting out your home for the first time? This checklist walks Northern Virginia owners through what to do before the first tenant moves in.

1. Landlord readiness checklist

• Check your mortgage, HOA or condo rules for any rental restrictions or registration requirements.
• Find out whether your county or city requires a rental license or inspection.
• Switch your homeowners policy to a landlord (dwelling) policy.
• Service the HVAC, water heater and appliances.
• Test smoke detectors and carbon monoxide alarms, and replace batteries.
• Fix leaks, loose railings, broken locks and other safety issues.
• Make keys for every lock, or rekey between tenants.
• If the home was built before 1978, prepare the required lead-based paint disclosure.
• Gather manuals, HOA rules and utility details for the tenant.
• Set aside a cash reserve for repairs and vacancy.

2. Four steps to start renting your property

1. Set the rent. Get a rental price analysis based on similar homes nearby.
2. Prepare the home. Clean, paint where needed, make repairs and take professional photos.
3. Market and screen. List the home, show it, and screen every applicant the same way under fair housing law.
4. Sign the lease and move the tenant in. Use a Virginia-compliant lease, collect the deposit and first month’s rent, and complete a documented move-in inspection.

3. A landlord’s maintenance obligations

Under the Virginia Residential Landlord and Tenant Act, landlords must keep the home fit and habitable. In general, that means:

• Following building and housing codes that affect health and safety
• Making repairs needed to keep the home livable
• Keeping electrical, plumbing, heating, air conditioning and appliances you supply in safe working order
• Providing running water, reasonable hot water and heat
• Keeping smoke alarms working, and addressing visible mold as the law requires

Tenants also have duties, such as keeping the home clean and safe and not damaging it. Put both sides’ responsibilities in the lease.

4. Insurance for landlords and tenants

• Landlord (dwelling) policy: covers the structure and your liability. A standard homeowners policy may not cover a rented home.
• Loss of rent coverage: replaces rent if a covered event, such as a fire, makes the home unlivable.
• Umbrella policy: extra liability protection, popular with owners of several properties.
• Renters insurance (tenant): covers the tenant’s belongings and liability. Requiring it protects both of you.
• Flood insurance: standard policies don’t cover flooding, so check your flood zone.

Review coverage with a licensed insurance agent.

5. Is a home warranty a good idea?

Possible benefits: it can cap your cost on covered repairs to major systems and appliances, and it gives you a repair service to call.

Possible drawbacks: coverage limits and exclusions can be strict, repairs may be slow because you can’t pick the contractor, and claims can be denied for “pre-existing” conditions. Slow repairs can also frustrate tenants.

Read the contract closely. Many landlords instead build their own repair reserve and use trusted local vendors, or let a property manager handle repairs.

This is general information, not legal or insurance advice.

Sources

• Va. Code § 55.1-1220: Landlord to maintain fit premises
• EPA: Lead disclosure rules for pre-1978 rentals
• Virginia DHCD: Landlord Tenant Handbook, Statement of Tenant Rights and smoke alarm form
• Virginia Fair Housing Office (DPOR)

Ready to rent your home?

Stellar Gate Management helps first-time landlords across Northern Virginia get set up the right way, from pricing and preparing the home to finding a qualified tenant.

Call 202-710-3342 or email info@stellargatemanagement.com, or request your free rental analysis below.