Leasing a property turns out to be an effective way to have an extra low risk income or to pay for your property.
Leasing a property turns out to be an effective way to have an extra income of low risk or to pay it since in the present conditions of the market the rent can cover to a great extent the quota of the same one.
If you are interested in leasing your property, know these six steps to take into account when renting it effectively, remember that you can lease the property on your own or leave it in the hands of a real estate expert, who will take care of all the necessary procedures and processes in exchange for a monthly fee that is deducted from the lease of this.
1. Define the rental fee
The first step is to define what will be the price of the lease of your property, will it be a fixed price or negotiable? Is this payment in relation to those of the sector? Can the fee exceed the lease ceiling? Will the administration or services be included in this fee?
2.Inventory your property
It is important to record the state in which each and every element of the property is delivered. For this, the best thing to do is to make an inventory, of which both parties should keep a copy, so that at the end of the contract it can be verified that everything is in order. It is important to include all the elements of the apartment such as locks, rugs and tiles, switches, electrical outlets, towel racks, sinks, showers, curtains, telephone outlets, among others.
3. Promote your property
The next step is to design a strategy to advertise your property, it is important to define What are you going to say? How are you going to reach your target audience? What is the best option to make your ad visible, a window, voice to voice, classifieds, web, app?
4.Be prepared to present your property
Despite the demand you may receive, remember that leasing is similar to selling and you must achieve the best impact on the future lessor, not only the property must be prepared but your lessor, you must explore the best features of the property and exploit them, cleanliness is crucial, details such as keeping the curtains open to illuminate the space are paramount, make use of aromas and promote a pleasant atmosphere are the keys to success.
5.Take care with the legal ones
Avoid inconveniences, when deciding on a tenant ask for at least four references, between personal and commercial, bank statements of the last two months, payroll receipts, labor certification and other documents that you consider necessary to ensure the reliability of the potential lessor. Verify all the information, request a co-signer or the acquisition of a lease policy. In case you decide to lease without the help of a real estate agency, verify the information of the co-signers on your own. For a better guarantee, they should also provide labor certifications and own a home.
As far as the tenant is concerned, it is suggested that he/she should have an income three times the value of the rent, so that his/her payment capacity adjusts to the rental price.
6.Demand the signature of a contract
Once you consider that everything is in order, the co-signer(s) and the tenant must sign the contract and the inventory that you have previously prepared.
Once all the papers are in order and the first month’s rent has been paid, it is time to hand over the keys.
Recommend to your tenant that in case of damages, give notice as soon as they occur in order to solve them as soon as possible, not only for the welfare of your client but also to avoid the deterioration of your property.
It is important to ask the tenant every two or three months for a copy of the utility bills and administration payments, in order to avoid unpleasant surprises.
On the other hand, you can access the services of an expert real estate agency that has all the resources to make the leasing of your property a simpler process. In this case you should only acquire the service of lease management, the real estate agency will set the rental fee through a market study, will be responsible for advertising your property and choose the ideal candidate with suitable bases, the expert real estate agencies have a legal team that is responsible for the drafting and enforcement of the lease and will be responsible for managing the property, make the respective collections and repair all kinds of damage that may be caused in your property.
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