How To Rent A Property Out Privately

Whether you are looking for an apartment or for a tenant, and do not want to use real estate agent’s services, there are several things that go different when you do everything by yourself. This basic information on how to rent property privately should be enough to get started – both for the owners and for the potential tenants.

Social networks

There are plenty of platforms where you can post and search for info on the available listings. If you want to rent a property out privately, you should definitely start from there. Apart from Facebook, which has too much various information, you can use more specific, narrow targeted web platforms as Gumtree. A successful posting has fewer words more pictures. And, if you choose to shoot a short video tour – this will definitely help your ad to stand out. After all, photos can be confusing, while a video normally creates a more realistic picture of your premises.

Get safety certificates

Before renting out, you are legally obliged to obtain 2 safety certificates: Gas Safety Certificate (if you have any gas appliances in your home, which you probably do) and Energy Performance Certificate. The last one is valid for ten years, so if you have acquired the property recently, you might still have it. The first one will can be obtained after a technician performs a safety check.

Employment checks

If you want to make sure that your potential tenants do not fall behind on their monthly payments, you should ask them for employment checks. Normally, they include basic information on the average income of each tenant, position in the company, whether the contract is short or long-term, etc.

Deposit

If you are satisfied with the results of the employment checks, and the potential tenants are still interested in renting, you can ask for a deposit. The exact sum is negotiable, but most homeowners ask for the first month payment and a safety deposit of another month and a half.

Contract

If you, or your friends / relatives have rented properties before, you might have a sample copy of the agreement. If not, it is possible to find one online or and buy the blank copy for a small fee.

Insurance and inventory

If you and your future tenants are ready to sign, there is only one final thing that has to be taken care of – insurance and inventory (if you are renting out a furnished property). Carefully evaluate all of your belongings and keep record of them.

In addition, owners who still haven’t closed their mortgage might need a permission from their creditors to let the tenants in. It is not always necessary and no one will refuse you this opportunity, but you should still inform the bank if you are going to rent out.

Finally, homeowners should bear in mind that a lot of little details may significantly increase the value of their property. New, properly maintained furniture , fully functioning appliances, even the smallest bathroom accessories  – those are the things that turn a house into a home.