6 Things to Do Before Renting Your House

While renting your house in India, it may seem as easy as it was posting an ad. While it is always recommended to set aside some time for you to prepare for your new business venture before you jump into the world of managing tenants and finding one. Here are some steps that you follow as a new landlord.

Get an Insurance Policy
If you have a property for rent in India and abroad this is one of the vital steps that you need to follow. Purchasing landlord insurance is of the most important step that one needs to take before one rent their house. The insurance will protect you from any kind of major damage that the tenant can cause in the future.

It is like a legal paper using which you can take action against your tenant. But beware, the rental property instance will not cover the personal property of your tenant but they will need to purchase the rental insurance to cover all their belongings.

Have a review of lawyer for lease agreement
A real estate lawyer will help you to check that your lease agreement does not have any kind of illegal provisions and will also protect you from any financial harm which can result from the exploring loopholes of a tenant.

A good lease agreement will help you to specify the ways the tenant can or cannot use the property. How many people can stay in the property, what insurance policy is required, who will be responsible for paying the rent and what will happen if the tenant does not follow his or her obligations are all in the lease agreement.

Choose Certain Criteria for Tenant
One should always have criteria set for the rental application that the tenant should meet and should write all the points down on a paper and hand out to the tenant whom they think potential to show the property.

These criteria should include everything starting from the monthly income level and the credit scores and even the number of tenants that can occupy the house. Also, lay the pet policies and smoking rules.

Get Paperwork Done
Property for rent in India involves a lot of paperwork apart from the lease agreement. There are a lot of forms that you will need to have on hand much before you rent your house. These include credit check authorization forms, rental applications, move-in checklist, move out forms, disclosure of your state requires and other notices to tenants.

Get a Home Inspection
Having your home inspected by knowledgeable will assist you to fix any critical maintenance issues before your tenants move in. This will protect you from any legal issues in the future and also you help you to save yourself from answering several maintenance calls within the primary few weeks of your renting your property.

Having a home inspection before you rent your house of the tenant move-in or moves out will provide third party documentation of any kind of damage that is caused by the tenant.

Clean, Landscape and Paint
There is no other substitute than through deep cleaning and a fresh coating of paint when you want to brighten the inside of your rental house. While trendy upgrades could also be optional, if you would like to draw in the foremost qualified tenants, this basic rental hygiene is required. Likewise, it’s important to form sure that the lawn and garden surrounding your rental home is neat and tidy before you post the “For Rent” sign. These rules should be strictly followed before you provide your house on rent to a new tenant.