Leasing out a property can be an effective method to earn passive income while maintaining ownership of the property.
We have compiled a checklist of essential steps that you need to take to prepare your property for potential tenants and attract attention in the rental market.
Get your Property Managed Right
Sign up for Property Management
It is always best to let the professionals to take care of hassles that comes after renting a property. It not only saves your precious time but also saves you from all the stress which can be eliminated. Thanks to our seamless property management which is accessible on click of a button.
Sign uptoday for a stress free property management solution.
Accept Offer
Once you’ve found a tenant offering your desired rent and terms of payment for your property, Its time for you to accept the offer. It is important for your real estate agent to do a thorough background check of the tenant such as Profession, Family background, Credit score history, Previous tenancy history etc.
Sign Tenancy Contract
Tenancy contract is a binding contract between the tenant and the landlord drawn upon the agreement of rental amount and other terms and conditions agreed between the landlord and the tenant such as payment terms, term of the contract etc.
Receive Payments
Depending upon the frequency of payments agreed with the tenant, The cheques are accepted and encashed on the due date. Tenant also needs to pay a security deposit to the landlord along with all the cheques of first and subsequent payments.
Handover and Snagging
This step involves handing over the property to the tenant to move in to the property. Your real estate agent is required to complete the snagging of the property before the handover in order to check the property condition prior to the tenant’s move in.
Seamless Tenant Management
Having a property management contract with a good real estate company gives you a complete peace of mind in terms of dealing with the tenant on regular basis, Maintenance issues, repairs, and financial reports on your single or multiple properties.