Many people purchase tiny cozy homes as a starter house for their growing families or as a downsizing option when they become empty-nesters. But it’s important to note that tiny houses aren’t just made to be lived in! They can also be considered investment properties that can then be rented out to create an additional income stream for their owners.
However, this doesn’t mean that you can just buy a tiny house in Raleigh and immediately set it up for rental! Before you can start accepting tenants, you must first take several necessary steps, including the following:
Look for the correct location.
Not every town and city is the ideal location for minimal tiny house rentals. Some areas require properties to meet minimum dimensions before being qualified as a rental. Other places, meanwhile, consider tiny houses on wheels to be temporary structures and therefore prohibit their placement. Still, other communities have no market for tiny home rentals, which means that you’ll have a hard time finding interested tenants. So, before you start shopping for tiny homes, you must first take a closer look at the area where you want to place your new tiny house rental and decide if it’s the ideal location or not.
Have your tiny home insured.
Depending on your insurance provider, you might be able to include your tiny truck house in your existing home insurance policy. However, getting separate insurance for your tiny home is better, especially if you’re planning to rent it out. Make sure that your insurance covers tenant accidents and injuries and provides you with adequate protection in case your tiny house gets damaged in a fire or any other incident.
Make sure your tiny house has all the required amenities.
Modern tenants look for properties with all the amenities they need to live comfortably, such as a functional kitchen and bathroom and a sleeping area that promotes rest and relaxation. You’ll also want to ensure that your tiny house has a fast and reliable Internet connection along with a highly efficient HVAC system. To further attract tenants, you can provide a barbecue plus sun loungers and other types of weatherproof furniture so your future renters and their guests can enjoy the outdoors.
Come up with the ideal marketing plan.
Most tenants aren’t looking for tiny houses to rent, so you’ll want to reach out to those who are. Advertising your Raleigh tiny house on social media is an excellent place to start since a lot of people start their search for rental properties online. Create a page for your tiny rental home on Facebook Groups, Facebook Marketplace, and other popular platforms, and remember to create listings on your area’s tiny house groups and websites.
Take these steps to prepare your tiny house for rental and successfully start your journey as a landlord! If you’d like to get more tips or are still looking for a tiny home to buy, reach out to Generations Tiny Homes today. We offer a wide range of options, from a tiny farmhouse on wheels to medium-sized houses that can be used as accessory dwelling units, and our team will help you select the ideal make and model for your budget and needs. Learn more about the tiny houses that we offer by giving us a call!
