Points to Consider While Renting Residential Property and SOP (Standard Operating Procedure)Society On Rent
Renting a property can be a headache for some. It requires a lot of planning and application of manpower. You even spend a lot of your time on contacting your clients. You have to take a break from your normal schedule, your job to take out time to show your property to your potential clients. This causes a lot of unnecessary wastage of your efforts. Apart from this you also waste your money on advertising your house rental websites.
This can be a done by the word of mouth, but many people choose to hire a broker who helps them in this process. it cannot be entirely called a ‘help’ because in return he has a decent share of your deal with the client. This is a theft on your pocket and makes it difficult to digest the fact that you unnecessarily wasted a lot of money especially when you can choose a better and much economical way of getting through it.
Post property on house rental websites just few steps
This is possible by the use of online facilities. Various websites allow renters to place their house rental websites or sometimes charge a small charge. There are provisions of getting subscriptions for such sites through which one can place his or her ads for free without paying any extra penny.Here we shall not go into the details of the procedure of ad placement. But, we shall discuss the renting essentials and the points to keep in the head while renting a residential property. We shall also go through the standard operating procedure.
Prioritizing your tenants- it is essential to prioritize whom you want to keep as your tenants. It depends on a large number of factors. The type of property, the size, and the surroundings have a much say in it. Will you be sharing it with someone? Do you need someone to take care of your property since you are frequently out of the station? Do you live with your family? Have you only your old parents living in your house? All such things need to be given a thought before finalizing your tenants. A good tenant keeps your house tidy and safe. Have someone who you think is a genuine person and whom you think can be trusted.
Police verification- once a tenant is finalized the first thing to do is to get their police verification done. This will save you from any trouble which involves notorious or unlawful activity happening on your property. The nuisance creators can be easily tracked down in such circumstances. Apart from that, you should know about the person’s background, his family and his occupation.
Rental agreement in black and white- one does not have to go by the oral deals. It is mandatory and essential to get a rental agreement signed so as to prevent any conflict in the future. All terms and conditions regarding the use of property can be mentioned to which a tenant has to abide and you can sue him if he forfeits it. It is the only written proof you have of your dealing.
Providing right information- the things you mention in your advertisements should be hundred percent genuine and true. Most of the deals, come to an end after property inspection, because the information supplied online was bogus. This is why, keeping the details, conditions, and issues mentioned beforehand, will ensure you get interested tenants.
Reasonable rate- pitching a reasonable and standard rate for your renting property is a vital part of your standard operating procedure. Without it, you cannot attract clients. People look for affordable houses. Make sure your pricing is set at a level which matches the condition and the space of your house. If your house happens to be in a porch area you will obviously get a decent rate for your property. Do check in your surroundings and neighborhood to find out what is the standard price for rent in that vicinity.
Advance and security- it is entirely on you how you go on with the structure of your advance and security payment. Make it clear to your tenants that they need to inform a month prior to vacating your property so you can again put it on rent.