When you rent out your property, you will realise that the process is much more complex than it appears. However, by keeping in mind some important things, you can easily make sure that this is not an added hassle for you and your family in your already busy and stressful life. Here are a few things to check before renting out your property:
It would be rather stupid if you proceed with renting your property without making a proper, legal, rent agreement. Make sure the agreement communicates all the terms and conditions that you wish to put across. Make sure it is signed. Once you make a rent agreement, it becomes easier for both the parties involved as the agreement becomes legal and hence, binds both sides to it.
It is advisable to check the condition of the house or any other property before you rent it out. If something is broken or not working, it is always a good idea to fix it and then proceed with other formalities. You can even click pictures and send to the person you are renting the house to. This way, they will also be aware of the condition in which the property is being handed over to them.
In order to be sure about the person you are renting your property to, it is important to check their background. In order to do this, a police verification is the best way. By doing this, you will not accidentally rent your property to someone with a criminal background. It is a simple process so it won’t take a lot of time as well.
It is important to have some clear communication with your tenants. If you are renting a residential property, ask the tenants if they have a pet or not, if they plan to shift their business at home? And discuss all possible options if there are some problems with the arrangement. Communication is always a good idea when it comes to such deals.
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