4 Things to Consider When Renting Out Your House For The First Time

Real estate is considered as a best investment choice. When you buy a new home, apartments in Trivandrum, as an investment not for living purpose, you can earn a second income by renting it out. When you rent out your home for the first time you need to consider certain factors as a landlord.

1.Necessary maintenance works

Before renting out your home, you need to ensure that everything in the proper condition. Check all the appliances and ensure all are functioning properly.

2. Rental Value

Your home’s rent should be very competitive. The rent depends on the amenities & facilities available and the locational benefits. Decide the rent by enquiring the rent of the similar properties in the location.

3. Security Deposit

Once the tenant finalised the decision on your property, you can collect the security deposit from the tenant as an insurance in case of the damage of the property. The landlord needs to return the security deposit in full, once the tenant completed the lock-in period and plans to move out.

4. Rental Agreement

A rental agreement is an important document as it protects the rights of both the tenant and the landlord. The agreement should specify the rental amount to be paid monthly, security deposit amount, notice period, additional charges etc.

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