Your Step by Step Guide for Renting Out A House

pengthor

Congratulations! You are now a proud owner of a spanking new property that you have just purchased and now you want to make money from your investment. But, how do you go about it? What is the first thing you must do? Where do you start?

These are questions everyone who is new to the business of renting their properties face. Here, we grant you a full step-by-step guide into the necessary things you must do to get you rental up and running. Be sure to go through all the steps carefully to avoid any trouble in the future:

1.        Set a Rental Rate

This step is rather simple to do. In order to know the current rate for your property, you should know the rental being paid for similar types of property in your area. You can charge 5-20% higher if your unit has been renovated or is fully furnished and semi-furnished. The best way to determine what the average rental rate for your area is to visit an online property website and browse to see what others are asking for their rented properties.

2.        Do Some Renovations

Some basic renovations are always necessary for any new house, especially installing fans, lights and other basic fixtures. For added security, you may want to install window and door grills. The more renovations you perform in order to add comfort or increase the aesthetic appeal of a house will garner you a higher rental rate.

3.        Engage a Real Estate Agent or Do It Yourself

Hiring a real estate agent to publicize and find tenants for your house will definitely save you a lot of time and effort. It will also lend a more professional air to the entire process. However, it will cost you a bit of money, usually one month’s rental, to hire an agent. If you choose to find tenants yourself, your best bet will be to post an ad online, like here on DurianProperty.com.


Continue read, please click here Your Step by Step Guide for Renting Out A House

Joshkhua

NB House Mover always did a great job providing best moving services. They would advise in every way just to keep our furniture clean and protected from scratch. Did I mention they arrive on time as well? Reliable, Friendly, Time-efficient, Good teamwork & Good manners.  Dear all, you may contact them at O: 03 6731 1421 / T: 011 3312 2990/ newbieinquiry@gmail.com Hey guys just feel free to check out their FB page: https://www.facebook.com/NBmover8/

ProvUnitV

Thanks for the tips. I will use them when I sell my house. My wife and I want to buy a home in another city. Right now, we live in a pretty old house with an ordinary design, and my wife wants to do the apartment design herself. Especially since we can hire people to help with the sale of the house and buying a new one, I definitely wouldn't have agreed to sell the house if it had to be done without professionals. I'm sure we would have lost a lot of money, and we could have bought a house at twice the price it should be worth. I know these sneaky people are willing to do anything.