When you know how to go about it, renting your home is far from being a complicated thing to do, as long as you don't get involved in the ground rent scandal.
In the lines that follow, you will discover how to rent a house you own, taking note of three key points.
Consider these tips and you would avoid wasting unnecessary time on trivial things, as many homeowners do when renting a house.
Because maybe today you own a house that you want to rent, and for different reasons.
Reasons why you may want to put your property for rent
1. Temporary rental
This is your main residence and you intend to live elsewhere for a few weeks or months, and you want to make your absence profitable.
2. For investment purpose
You have invested in real estate in order to derive regular rental income.
3. You have a new inheritance
You have inherited a house that you do not want to leave in a vacant state.
However, you may be unsure of how to proceed. You may have heard rental stories gone awry and therefore scary, such as the rent-doubling ground rent scandal.
Here's how to rent a house, asking and answering these 3 key questions:
1. Do I rent the house naked with no furniture or with full furnishings? What is the lifestyle of the lessees in the area? Are they tourists, looking for a temporary place or are they looking to work in the city, while bringing along their families?
2. Do I find a real estate agency or go through the process solely?
3. Depending on the furnishing state and the geographical location, how much should I rent my house?
If you can answer these questions through accessing what you have and making the needed research on the state of real estate properties in your area, you will already see more clearly about the art and how to rent your property effectively.