If you are thinking of giving out your property on rent, then you must prepare a checklist for the tenants. On whatever purpose you are renting out your property, you should make sure that you have mentioned all the necessary things in the checklist.
The checklist you prepare should contain the details regarding the maintenance of the property. After you have let out the property on rent, make sure that it is the duty of the tenants to repair the property is there is any type of damage. Otherwise you may find your property in a very bad shape after the tenants have left.
The water and electricity bills are two most important factors to consider whenever you are letting out your property on rent. You must mention the charges in the checklist properly. If you have different electricity meters, then there will be no problem, but if the meter is joint, you must decide on a specific charge. Also mention the disciplines in the checklist like the decorum to be followed if the guests come, time to enter the house, etc. Mentioning all these things will keep you away from any possible type of mess in the future.
Are you looking for a rental apartment? Here are few tips for you to prepare ahead.
To start up you should always be prepared for a background verification and thus keep your bank account information , original address, and a personal or professional reference ready in hand. Before you commit on any apartment go through the lease agreement minutely and keep a copy of it with yourself as that is the only legal evidence of your tenancy considering mutual benefits. You should also clarify on the expenses designed including or excluding the rent such as electricity, parking etc. It is always better if you go for payment via cheque however if you go for cash payment get a receipt signed by your landlord. You should also check on the other variables like guest policy, conditions in case of a damage occurrence, landlords’ right of entry, number of people to share with if any, span of occupancy etc.
And finally when you plan to vacate inform your landlord at least 30 days in advance. Sort out everything in terms of the documents and don’t leave behind any of your possession.
Are you planning to rent out your apartment lately? Well that is a great idea but there are certain responsibilities too. Here are some tips to keep in mind before renting your apartment.
Firstly, look at the location of your house. If it is in a crime prone area, renting it out might not work as you would not get many tenants. A well connected and safe location of a house is one of its publicity factors. Then calculate the entire cost of maintaining the property to see if you really can manage. Visit a legal consultant before taking any final decision.
Keep your home well furnished and well equipped with all the basic facilities like water and electricity. Maintain a good rapport with the plumber, electrician and carpenter. Screening of the prospective tenants is equally important. Get the application forms (which will have tenant’s identity, rental purpose and history and also his financial standard) from your attorney. Do not hesitate to evict your tenants if they prove to be harmful.
Well as we all know holiday homes are your second area of dwelling, which we use when we are on vacations, holiday homes are for relaxation and chilling out, this is the reason why people like to own one, so that they can relax in their own way in their own house, rather second house. But when you are letting a holiday home you are to consider certain dos and don’ts in this respect.
Remember never to trust people completely, so when you are letting a holiday home, make sure there are no valuable items, like money, jewellery. Have a basic set of rules for your house, since different people have different lifestyles, make sure you make them understand the basic rules to keep the house clean, let them enjoy but with the basic rules that needs to be observed, believe us this will help you in preserving your holiday home in good conditions.
Tenancy agreements are of utmost importance for both the house owner and the tenant. They make sure that landlords can claim authority over the place once the due date of the agreement comes to an end. As soon as a tenant reaches the position as to where they are no longer legally authorized to put up in the apartment or house, they are either asked to quit the house by the landlord or the agreement is renewed under mutually agreed terms and conditions.
The tenancy agreement doesn’t come in any particular format but should state that if after the due date, the tenant refuses to leave the place of dwelling; the landlord can seek justice from the court of law by obtaining an order for possession and thereafter have the tenant lawfully evicted.
Tenancy guarantor, on the other hand, is a lawful agreement whereby a guarantor agrees to pay the rent in case the tenant fails to clear the dues. He takes the responsibility on behalf of the tenant, and the agreement can be lawfully used by the landlord in case of any damages to the property. In most cases, it’s just a way of saving the property from rental arrears.
The Property Investment Project is a great help to those landlords who face a tough time in gaining possession over their property due to some rude and unethical tenants. Their efforts are aimed at landlords who seek justice from the court of law in such instances. The site is a kind of personal experience of the owner and he makes every possible effort to make others aware of the kind of dire consequences they can face as landlords. The details of the contracts are mentioned in the blog with options to downloading them as per needs and requirements.
There is also an option to directly contact the owner of the site and seek his advice and suggestion on any property related matter. The blogger also welcomes all kinds of suggestions to improve the content of the blog, or for that matter update them in accordance with the latest happenings. Check out if you plan to let or sublet a property.
Most landlords are normally reluctant when it comes to leasing their property to people who have a history of broken lease. Although it might be challenging to find a landlord who is willing to rent out property to someone with a broken lease history, there are some landlords who might not dwell too much on that history. Here are some tips that you should follow in order to lease property even with your broken lease.
The first thing that you should do is to clear all your rental debts. If you cannot pay the debt in full, you should make the necessary arrangements to reimburse your previous within a given length of time. This will show that you are serious about being a responsible tenant. If you prove to be a responsible person by the way you present yourself to the property manager, you might be able to rent an apartment even with a broken lease.
Subletting is renting out a rented house to someone else on a temporary basis. When you want to go away for some few days, you can have someone stay in the house for a fee. Here are some essential subletting tips that you need to follow before you allow anyone to live in your rented house.
You have to trust the person who you are subletting the house to. When you sublet to a person that you can trust, you will not have to worry about the security of your property. You also need to come to an agreement on the payment method. Subletting is a good way of saving money on the property that you have rented. You should know however, that as the tenant, you hold the full responsibility of the original lease. Therefore if there is any loss incurred when the house is sublet to someone else, you will be held responsible for it.
When you rent a town house, you will end up saving a lot of money because these houses are far much cheaper to lease than single homes. There are many things that you should consider when looking for a townhouse to rent. One of these things is the locations of the townhouse. You have to make sure that the house is located in a secure neighborhood. You should also ensure that the townhouse is near some of the essential amenities that you will need. These include shopping malls, hospitals and schools.
You also need to consider the amount of rent that the townhouse requires. While there are some townhouses for rent that come very cheap, there are others that are much more costly. Make sure that you get the house that is within your budget. You should make sure that you understand all the requirements of the lease before you agree to rent the house.
Letting agents are the people you go to when you need to find rental property such as homes and business premises. Many people do not like dealing with letting agents for fear of being treated unfairly or being overcharged for some non existent services. However, there are some letting agents out there who are ready to serve you and charge you fairly for these services. Here are some tips that will help you play a fair game with letting agents.
You have to find the letting agents who are known to be reliable and diligent. If you get a reliable letting agent, you will not have to pay for services that you did not get. A diligent letting agent will enable you find the rental house that you have always wanted. He will do all the searching for you and all you will need to do is move in after you are satisfied with the house.
You will enjoy considerable tax benefits if you rent out your vacation property. However, this will depend on the amount of time that you spend in the house yourself. In most cases, you will enjoy some tax exemption if you stay in your vacation for 14 days or more. Tax exemptions also depend on the length of time that you rent out your home. The deductions will be greater if you rent out the house for more than 14 days.
Some of the fees that you can deduct on your vacation home when you rent it include maintenance, utility, operating, insurance and depreciation fees for the period of time when your vacation home is rented out. If you rent your property for less than 15 days, you do not have to worry about paying rental taxes. You can rent out your vacation property at a high rate for less than two weeks without paying any income tax on the money you get from rent.