Renting out your own house or apartment can quickly become a challenge: especially if you are renting out a property for the first time, as there are many formalities and tasks involved. In this post, we present common mistakes made when renting out real estate and tell you how to avoid them.
Letting a property should always be well considered and prepared in order to avoid possible mistakes and stumbling blocks. You should plan well ahead and clarify questions such as:
Lay people often find it difficult to set the appropriate rent. If rent is set too high, there will be no enquiries. A rent set too low also has its disadvantages: After deduction of reserves for maintenance and repairs, the investment is barely profitable.
To determine an appropriate rent, you can use the local rent index or comparable property adverts as a guide. Furthermore, you should check whether a rent brake applies in your location.
First impressions count - this is also true for real estate. For this reason, you should create an appealing property profile for your house or apartment. Take meaningful photos, describe your property, and emphasise its special features.
Furthermore, you are obliged to provide information on energy sources, the year it was built, and the type of energy certificate, otherwise you may be fined. The energy certificate must be available no later than when viewings start. Ideally, you should already have a floor plan and the last service charge statement ready at this point in order to be prepared for possible questions.
Do not rush the search for a tenant and take your time choosing. For example, ask prospective tenants questions during the viewing and request proof of salary or credit rating.
Once you have found the right tenant, you need to draw up a tenancy agreement. Ensure that the forms comply with the current guidelines and pay attention to the correctness of the clauses as well as the wording.
Before the new tenant moves in, you should also draw up a handover document in which any defects are recorded. If you waive this, you cannot hold the tenant liable for damages.
Rent out safely with the experts by your side. Simply leave all tasks to us. We look forward to hearing from you!