Sometimes we face such situation around us we invested a new house and want to give an existing house as rent or due to some circumstances we moved or get transferred to a different location. So you will definitely think about give your house / flat in rent. To earn some money which will help you to bear new location expenses like rent of a house or other expenses. Maybe you buy this house after borrowed home loan. It will be a great help for you.
So renting a house is not an easy task before giving your house in rent ensure following facts.
How to get a better rental income:
Ensure that your house/flat condition and build colours and ventilation are liveable. You have to renovate/ paint your house with good colours. Check all the bath fittings and kitchen equipment. Doors and security features are also major concerns these days. These all will attract Tenants and they will able to pay you to rent as per your desire. Look around and check the rent trends of localities.
Security of Rental Income: If you are away from your home/flat like living in a different city or town someone must do take care of your house who can collect rent on time. Also may take care of all the things which may be required anytime.
Renter requirements:
Check out tenant/renter as per your desire means if you are looking for long term uninterrupted income you must go with family people. If looking for short term renter just go for student’s type of renter.Rental agreement / Legal formalities:
Worlds is not much trustworthy to secure your earning and asset look for a loyal tenant. Make rental agreement where all the terms of payment and ownership and living of Flat/House should be clearly mentioned. These days’ people take help from a local dealer who does take care of all the documents and mutual agreements with both the parties.
Security Deposit:
Apart from the rental documentation the owner should collect a security deposit as per the rent charged for the flat/ house. These days it is normal dealers in between will ask you 1 month as a security deposit and 1-month rent in advance also dealer will take 1 month as a commission.
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These are dependably a worry in investment property and need checking.
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