#3 new
Talha Feroze

Things a landlord should know before renting a house

Reported by Talha Feroze | November 8th, 2021 @ 05:33 PM

Just because you decide to list your home as a rental property on a real estate market, it doesn’t mean that someone will rent it straight away. Therefore one of the most important things which you should know before renting out a home and becoming a landlord is to know whether your home is rentable or not. This means whether your home is appealing as a rental property or not.


Don’t forget! Managing a rental property requires effort, time and attention. So before turning your house into a rental property and becoming a landlord ask yourself whether you are capable or ready to manage rental property. Conduct a real estate market analysis to determine the market prices in your area and to find out the features which make your property appealing and attractive to tenants.


Choose the right agent

If you plan to hire a real estate agent to advertise your property on your behalf and to complete all paperwork then choose someone who follows best practice and meet all professional requirements. Those who are looking for a Residential Plots for Sale in Islamabad will contact you through them or you can also start your real estate market analysis by visiting Gharbaar website. This will help you to know the rental rate in your area and to find a good tenant.


Set a rental rate.

If you are wondering how to rent your house that generates profit, the answer is long term thinking and good planning. Of course, you will want a rent higher than your expenses but for this, you will have to be competitive to attract tenants. 


Make a property management plan.

Decide who will manage your property on a day to day basis from maintenance calls to check on your property. Make a plan for maintenance and repairs. Who do you want your renters to call for any kind of issue and maintenance? You can hire the services of Property Management Company to handle this but if you will do it yourself then it will maximize your profit. 


Create a marketing plan 

Take some professional photographs to make your house look best. The higher the listing photos quality the more the renter willing to pay. Listing your rental house on online real estate websites such as Gharbaar will help you to reach a large number of potential renters.


Meet and screen potential tenants.


Typically, the first thing renter will want to do is to visit your house. This is a great opportunity for you as meeting them will let you know whether they are suitable tenants or not. Ask tenants to provide you with at least three references. This will help you to know whether your tenants are reliable or not. 

  • Some of the best means by which you can find comparable houses include a personal visit to see what offers are up, finding an online ad and using it or contacting an agent who knows the area well. As these means are the ones that people mostly employ to put the house up for rent
  • After you have the idea of what the market is like in terms of rent compare your house to those. See where your house stands do. After you have carefully calculated this either increase the rent or decrease as compared to what the competitors are offering. Some of the factors that you might want to keep in mind and consider include:
  • The size of the house which can be measured in square feet.
  • The area of the house which may be in the region that is more likely to attract tenants or is it in a remote location.
  • Facilities that are being provided are also a major factor. Which appliances are installed, furnishing, etc?


So if you have a property that needs to be put up for rent, then why not give an advertisement saying “house for rent in Islamabad”. It would surely lure in a lot of possible clients

  • If the advertisement doesn’t get you tenants with an interest in viewing the property, then my friend it is the best time to change your strategy. The main reason this could be happening is that the rent might be unacceptable for them. If there is a lack of contact even after a long period, consider changing your rent to a lower value. It might be possible that you mistook the value in the first place.
  • Keep on consulting the market to determine the right rent value. Market values tend to fluctuate a lot. So the best rent would be the one that is best suited for that particular day. Also, remember to be open to negotiation. You should set the rent such that there might be some flexibility for the people that are willing to rent. Don’t set the value too much on the border so that there is no room for changes. Tenants do hunt for bargains and if you give it to them, it might please them enough to make you their landlord.


Do you have queries related to the real estate sector? Go to the Gharbaar website for authentic answers to all the information Commercial Plots for Sale in Islamabad you desire. Gharbaar is the name that you can trust in the area of real estate

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