Renting a property seems to be easy when you just think about putting an ad on newspaper or through online. But the fact remains, it is not such an easy task for a new landlord. Most times, you would require to prepare your house before you leap forward finding and managing tenants. If you are moving from Vijayawada to any other city, you must be thinking about renting your property to a good tenant. If you move in the right way as a landlord, giving your house for rent in Vijayawada can offer you a rewarding experience. For a long run, it will help you to make you some money. You must be prepared to do some homework before you rent your property. There are certain things you must perform, such as
- Determine the market rent depending upon the area and condition of your property and you must also check the rental amount of similar properties available in that area.
- You must be ready to place an ad in local newspaper and you must also check different rental websites to see how much other landlords charge in your area.
Some tips given below will help you to find reliable tenants.
- Check the condition of your property
Once you decide to rent your home in Vijayawada, you must ensure the property is in good condition. It should be free from any structural problems, adequate amount of ventilation, appliances in good working condition and electrical wiring in good condition. If your property is in a good condition and well maintained, then you can expect your tenants to treat your home with respect, until the end of the lease.
- Collect information about your tenant
Once you meet some prospective tenants, ask them to provide references of previous landlord and from the tenant’s employer. It is very important to check the tenant’s ability to pay rent and if the prospective tenants are students, you must visit their parents and ask them to act as guarantors to the lease. Once you are satisfied your tenants ability to pay the rent, you can ask them to pay some money as token advance. Make sure you don’t discriminate the tenants by asking their age, religious belief, family status and marital status.
- The duty of landlord
There are certain obligations to be followed by the landlord. You shouldn’t charge a rent for your property that exceeds a market rent. You must provide your tenants at 2 months notice in prior to vacate your house. You must perform repair and maintenance work on time and the landlord will be responsible for paying such expenses. Allow your tenants to enjoy a peaceful life and return the security deposit on time.
- Inform and give details of tenants to residential association
It is very important to give details about your tenants to residential association. You must inform them about the number of occupants in your rented house. You must also provide identity proof, of the tenant to the residents association. The association authorities are liable to collect information about their tenants living in the township. After informing the resident association, your tenants would be able to use all the services available in the township area.
- The right of a landlord
You must receive correct rent on the due date and make sure the tenants pay the monthly maintenance charge to the association on time. You must review the rent annually and after receiving notification about any repair, you must carry out the repair on time. If the tenants are responsible for any damage, recover the cost from the tenant.