Planning to move to another city or simply to another location but do not want to give up the place you are residing in currently? Renting it out is the most convenient thing to do, and yes! It makes perfect sense.
However, with it, comes a lot of headaches that you must address. As an owner, worries such as misuse of the property by the tenant, rent and maintenance payment delays or refusing to vacate the house, can be quite stressful. To avoid such hassles in the future, it is wise to keep in mind a few necessary things before renting out a flat.
To help you make this easier, we list out a few things you should know before renting out a flat:
Reference check and police verification: Before handing out the keys to your house to your potential tenant, make sure you have all the authentic documents required for rent agreement. Make sure documents such as permanent address proof, last residential address, legit government id and tenant police verification or background check of the tenant are all in place before you get your tenant to sign the carefully curated agreement papers.
Inspect the flat before renting out: Before someone moves in, give final look at the flat. Inspect every corner of the flat and make a note of the condition of the house. This does not end here; as a landlord, you must visit the rental house occasionally for inspection to see if the tenant is following the maintenance clause.
P.S: Never rent a house without a contract.
We understand that renting out a flat, which was once upon a time your home, can be difficult but with this to-do list in place, we are sure this process will be smooth and hassle-free.