Renting out an apartment can be a very profitable business, but there are many nuances the renter should take into consideration. In this post we will give you a list of useful and effective tips that will help you rent out your apartment without any loss! If you want to rent out an apartment quickly and safely, visit Jiji, the largest Nigerian marketplace that has more than 10 millions visits per month. Most of these people are your potential tenants!
Before renting out a flat, the owner should carefully consider some points related to this procedure, and, of course, make an apartment as attractive as possible.
The price of apartment
First thing you should think of is the amount of money that you will regularly receive.
Generally, the cost is formed basing on 2 factors:
- district location
- condition of an apartment
Before you start searching for tenants, call several real estate agencies and learn how much does it cost to rent an apartment similar to yours. It is worth noting that different real estate offices can have different prices. So make a call to 5-6 agencies and find out the average price.
General condition and repair
These factors should directly depend on the objectives of the lessor. If he wants to get high profit, the housing should look correspondingly. It should have new plumbing, good flooring, beautiful and comfortable furniture, quality kitchen furniture – all this will increase the renting cost.
If the owner doesn’t have an opportunity to place nice furniture in an apartment, it is not required to rent out an accommodation with an old sofa and a pair of broken chairs. In such a situation, it would be better to rent out an apartment without any furniture at all. Plus, many people, who rent housing, prefer to have their own household items.
Trust this deal to a good real estate agency. An agency will find a conscientious and suitable tenant for you as soon as possible!
Next, you will have to make the lease agreement. This document helps you avoid many of the ambiguities that might arise between the owner of the property and the tenant. Many people are looking for tenants themselves. The reason for this is their unwillingness to pay real estate agencies for their services. But this is the wrong approach. The agency will take its commission, but along with this the owner will receive the rent for exactly the amount of money he asked for.