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TOP-5 tips on how to avoid mistakes for owners when renting out housing

1. Control the leased object
Even when there is a relationship of trust between the owner and the tenant, there is no need to cancel a periodic visit to the property or call the tenant about the condition of the apartment.
It is better to correct, double-check, settle any nuances at the very beginning than to delay and bring to global updates or unpredictable surprises.

2. Sign a lease agreement and record all “verbal” agreements in it
Turn to trusted real estate experts.
The contract must include all the necessary points and controversial points: the procedure for entry and exit, deadline, payment, options for resolving conflict situations, etc.
The contract is a guarantee and insurance in case of misunderstandings.

3. Choose a strategy for the delivery of real estate
Either entrust the renting of an apartment to one real estate expert who is responsible for all the nuances, including the result – renting an apartment, or distribute it to all agencies and tell everyone your wishes, or do everything yourself.

4. Count on not only long-term rent
Often, owners consider only those clients who are ready to call in immediately for a long period – for 1, 2 or 3 years.
The longer the apartment is empty, the more losses the owner bears.
Today, the average rental period for apartments is 6 months.
It is better not to waste time, but to pay more attention to a well-drafted contract in order to compensate for the wear and tear of the apartment when leaving.

5. Renovate the apartment at a certain period
Apartments that are rented for the first time are the most relevant and have a rental rate higher than those that are not the first time in rent.
Therefore, the owners need to put the apartment in order after each tenant – call cleaning, repair minor household defects.
And in the case when there is obvious physical wear – make repairs.

If you have any questions about renting – please contact us!

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