How you can safely rent out your furnished apartment.
More and more individuals are now preferentially booking furnished short-term rental apartments during their visits to various destinations. Even though the business is booming, property owners have to be careful both to protect their property and to ensure they rent their units out to tenants with no criminal agendas. It is advisable to rent out the apartment via trusted organizations i.e. APT212 however there are various precautions to take for the protection of your property if you want to do it independently;
Take security deposits for the furnishing- you can legally draft an agreement between you and the tenant to cushion you from any damage resulting in your furnishings during their stay. The amount should be reasonable enough for the tenant and you should be willing to give the security deposit back if no damage whatsoever comes to your furniture and other furnishings in the apartment.
Ensure your property- when renting out your property, you should get an insurance that covers you as the landlord and not as the occupant. Your tenant should as well have a renter’s insurance from which you can make any claims for any liabilities. It is advisable within the first 30 days of their stay to document the condition of the various components of the house, you can further take pictures for future reference in case of any issues.
Screen the various tenants interested in your property- you should always screen tenants before going ahead to sign the tenancy agreement to ensure you get the right client for your apartment. This will ensure you find someone who you feel comfortable with and possibly fits in the community well. Usually, the worst experiences come from tenants who do not fit in well and this may perhaps be shown in their previous rental history. You can find out such information about them by calling the provided references and ask what you need to know or doing background checks before allowing them to move in.
Occasionally send in cleaners- you will possibly have to charge the tenant some amount for cleaning which would cover the cost of your cleaners. Furnished apartments need regular cleaning to keep the furniture protected against accelerated wear and tear, pets, or various spills that may result during the stay of your tenant.
Be regularly in touch with the tenant- it is always wise to every once in a while enquire about any issue that may have arisen and make sure everything is in good condition via email or calls. This will ensure you maintain the quality of your property and hence it’s market value for future clients. Responses, especially in writing, may serve as proof in case of future dubious complaints and possibly the financial implications with which they come.
Landlords should always ensure they have a safety net to protect their property from damage leading to losses. APT212 believes the even though tenants are customers who should be treated with respect, they should as well be held accountable in case they cause any damages. Landlords should, therefore, have a contract that covers all the important details of their apartment which tenants must carefully read and sign before the start of their tenancy.