Renting your apartment is a great way to earn some additional income. Whatever your reason for deciding to rent whether you have moved into a different space or are relocating for work – renting is a great way to make some money and will ensure that you continue to own property which is a great asset to have! Here are some things to keep in mind when renting out your apartment.
Strangers are going to be living in your home. You need to take precautions to ensure that you will not be held liable for any legal issues or disputes that arise during their stay and you will also need to take steps to protect your property from damage, encroachment and from anything that could lower its market value. Ideally you should draw up a lease or rental agreement in consultation with a lawyer. You should include liability clauses and make sure that the tenant will be held responsible for damage to the property during their stay. You will also need to sort out the details of the rental in terms of payment and dates. Ensure that the price is set and if rental prices are subject to change what those changes might be. You should also include details on the length of the lease or rental agreement and conditions for renewal or termination.
You should also prepare your flat for its occupation by a stranger, ideally you should do one thorough cleaning. Perhaps you could hire a service such as bond cleaners to take care of it for you. Visit this link http://www.bondcleaningaustralia.com.au/brisbane-north/ for more information about the bond cleaners in Brisbane North.
A service like bond cleaners will take care of floors, carpets and upholstery as well, which can be very convenient in addition to a thorough cleaning, you will also need to make sure that all your appliances that come with the flat such as a washing machine or microwave or oven are in working order. Check that all electrical outlets are functioning and take care of any faulty wiring. If there are any specifics about how many appliances can run without shorting out the power make sure to mention this to the tenant.
While the flat does belong to you, someone else will be calling it home for a while. Ideally, in this situation you should not leave personal belongings behind – take your books, pictures and knick knacks with you. If you are leaving something behind like some books and magazines, make sure that they aren’t ones you mind leaving behind or specify that you expect them to stay in the flat.