Real estate investment is one of the highest paying investment
vehicles worldwide that guarantees wealth creation and building of equity. Owning
a property can serve as a long-term plan for future generations, however there
are a few things to know when you are about to put up the property for rent.
Verification of tenants: Getting verified tenants is an
important way to ensure that prompt rental payments are not an issue. As a
property owner with Rentsmallsmall, you do not have to worry about the quality
of tenants which will be living in your property.
Legal and documentation: One of the benefits of getting a
legal practitioner to read through contracts and documents which cover all
details of transaction, is for easy translation of all documentation and how it
applies to the property owner.
Property management: Property owners who are extremely
engrossed with other financial activities, are advised to employ the services
of property managers to oversee all matters concerned with maintaining the
property. A well-managed property will be in the high demand within the rental market.
Payment plan: If you are engaging the services of
an independent real estate company to help you with filling your property with
tenant and managing the property, you will need to clearly identify and
understand the payment plan. In addition, setting a systemic payment plan for
your tenants, with flexible timelines according to the housing laws, helps you
manage your monthly or annual inflow.
Determination of rental
income: Knowledge of
property value within current rental climes is an important tool for setting
rental amount. It may be easy to just put up a property for sale or rent based
on how you feel, but that may reduce your relevance as interested parties may either
see your property as over-priced or under-valued.
If you are new to the property ownership space, you will need
all the support you can get and we are more than happy to help you settle in
nicely by showing you the ropes. Do you have a property and are considering earning
rental income on a monthly basis, reach out to our customer experience team