Things a landlord should know before renting a house

Just because you decide to list your home as a rental property on a real estate market, it doesn’t mean that someone will rent it straight away. Therefore one of the most important things which you should know House for sale in Islamabad before renting out a home and becoming a landlord is to know whether your home is rentable or not. This means whether your home is appealing as a rental property or not.

Don’t forget! Managing a rental property requires effort, time and attention. So before turning your house into a rental property and becoming a landlord ask yourself whether you are capable or ready to manage rental property. Conduct a real estate market analysis to determine the market prices in your area and to find out the features which make your property appealing and attractive to tenants.

Choose the right agent

If you plan to hire a real estate agent to advertise your property on your behalf and to complete all paperwork then choose someone who follows best practice and meet all professional requirements. Those who are looking for a house for rent in Islamabad will contact you through them or you can also start your real estate market analysis by visiting Gharbaar website. This will help you to know the rental rate in your area and to find a good tenant.

Set a rental rate.

If you are wondering how to rent your house that generates profit, the answer is long term thinking and good planning. Of course, you will want a rent higher than your expenses but for this, you will have to be competitive to attract tenants.

Make a property management plan.

Decide who will manage your property on a day to day basis from maintenance calls to check on your property. Make a plan for maintenance and repairs. Who do you want your renters to call for any kind of issue and maintenance? You can hire the services of Property Management Company to handle this but if you will do it yourself then it will maximize your profit.

Create a marketing plan

Take some professional photographs to make your house look best. The higher the listing photos quality the more the renter willing to pay. Listing your rental house on online real estate websites such as Gharbaar will help you to reach a large number of potential renters.

Meet and screen potential tenants.

Typically, the first thing renter will want to do is to visit your house. This is a great opportunity for you as meeting them will let you know whether they are suitable tenants or not. Ask tenants to provide you with at least three references. This will help you to know whether your tenants are reliable or not.

Look for Issues with electricity and plumbing

Make sure that all utilities are properly working such as lights in all rooms are operational and there are no clogs or leaks in the plumbing. You should also change the door locks to maintain the tenant’s safety. These are very important to ensure no complaints from tenants. Remove all your personal belongings from your house and collect the security deposit and first-month rent before handing over the keys to tenants

Document your rental and protect their security deposit.

This is a very important step that Flat for sale in Islamabad you have decided on tenants. Write a rental agreement as this will ensure that tenants will show compliance in understanding the required obligations and rights.

This is your responsibility to guarantee the safety of your tenants. Remember no damage or injury should be caused to tenants as a direct result of your negligence.