After years with an empty home and time thinking about it, you have finally made the decision to make a profit, but where do you start? I put an ad for "rent a flat" and that's it? In today's blog we will see how to take the first steps to rent a flat successfully.
skymarketing.com.pk strives to be Pakistan's biggest real estate developer ever, guaranteeing the highest international standards, prompt execution, and lifetime customer loyalty. For further detail visit nova city
Rent a flat: What are the first steps?
Step 1: Is your home ready to rent?
Many owners make the mistake of thinking that renting an apartment is making money every month and that's it. And in part it is true, that is why you get profitability from an empty apartment, but you also have to make small investments so that your tenants are comfortable but also so that you can maintain the rental price without being disproportionate over the years by the state in the one that is or even upload it.
A completely renovated apartment can be rented for a lot of money, but it is not necessary to go so far: you will spend a lot of money, you will have the headache of the works and it will be more difficult to rent if it has a high price, but at the same time if you lower it. you will never get the investment money back.
Without a doubt the key is to make small reforms in the kitchen and the bathroom , they are the key points of the house and that can make the most difference and you do not need to spend a lot of money, with changing the bathroom furniture, removing the bidet to win space or putting a shower instead of a bathtub is enough. In addition, you should also assess whether you want to rent your home with an equipped kitchen or a fitted kitchen, in this case there would only be the oven and hob.
Don't forget the most important thing !: paint the floor white, the white walls never fail to rent, it is a neutral color and it helps to give a feeling of greater space.
Step 2: Documentation
Before renting your apartment, make sure you have the following documentation:
- Energy certificate.
- Certificate of occupancy.
- Property title.
In addition, it is also important that you have the latest utility bills on hand: water, electricity and gas. Once you have rented the home, you will have to send them to the tenants so that they can proceed with the change of ownership.
Step 3: How much do I rent a flat for?
The price, the famous question: how much do I rent an apartment for? Different factors will enter here, especially compare with the prices in the area and think about the state and what your home offers . If you work with a real estate agency, the advisers will advise you what is the best price to rent it, everything will depend on the supply and demand.
Step 4: Individual or agency?
Now that you have everything prepared, it's time to decide whether to rent the house as a private individual or as an agency. The most advisable thing is to have advisers, they will manage all the issues of the apartment and tenants, in addition to the visits before renting it and they will recommend the best price to rent it.
Step 5: From "rent apartment to rented", the portals and visits
When you have it published, either as an agency or individual, the time for visits will come. Think what you are looking for with the rent: shared student flat to get more money per room, a young couple or a family, etc. P hink that profile tenant want it to be in your home for you or the agency makes a good choice.
In addition, before proceeding with the contract, you will have to verify your financial solvency through payroll, contracts or guarantees. To be more calm with issues of non-payment and delinquency, you can resort to a non-payment of rent insurance.
Above all remember that in these times social distance is essential , so during visits keep your distance, put a bottle of disinfectant at the entrance and prepare everything so that there is the least possible contact and the least risk of contagion.
Step 6: Bond and Inventory
Once you have found the ideal tenants, you will have to sign the lease. Keep in mind that as a homeowner it is important that you draw up an inventory of all the things in the house that you want to remain the same when they leave. In addition, you will have to give a month of guarantee to the State and you can request up to 2 months of additional guarantee.