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Do you want to rent out your property? Follow these steps.

January 26, 2025
The most common question on social media is: “I have a property, and I want to benefit from it and rent it out.
If you have a property and want to rent it out professionally to create a steady source of income, it’s a great idea. However, the process requires careful planning to attract suitable tenants and maximize your investment. In this guide, we will outline the steps to rent your property successfully.
1. Prepare the House for Rent
Before listing the house for rent, ensure it is ready to welcome tenants. The basic steps include:
  • Perform Necessary Maintenance: Fix any plumbing, electrical, or air conditioning issues.
  • Clean the Entire House: Make the property look excellent to attract tenants.
  • Enhance the Exterior Appearance: The appearance of the unit from the outside (such as the garden or entrance) leaves a strong first impression.
2. Determine the Appropriate Rent

The rental price is a crucial factor in attracting tenants. You can use rental indexes to know rental prices in your surrounding areas, in addition to:

  • Conducting Market Research: Learn about the average rental prices in your area.
  • Consider Property Features: Location, size, and accompanying services all affect the rental value.

3. Prepare the Rental Agreement

The rental contract protects your rights and the tenant’s rights. The biggest mistake you can make is renting without contracts. Therefore, the “Ejar” platform has created a unified rental contract that guarantees the rights of all parties. In the unified contract, you will find all the clauses related to your rights as a property owner as well as the tenant’s rights.

4. Advertise the Property

Reaching the right tenants requires using effective advertising channels:

  • Online Platforms: Post your property on popular real estate websites.
  • Social Media: Use paid advertisements to reach a wide audience.
  • Local Advertisements: Billboards in your area may be effective in garnering a possible tenant’s attention.

5. Choose the Right Tenant

It is important to select a reliable tenant who commits to paying on time and maintaining the property. Important tips include:
  • Conducting a Personal Interview.
  • Requesting References from Previous Tenants.
  • Checking Financial Stability (bank statement or proof of income).
6. Professionally Manage the Rental
After renting the house, you need to follow up on matters periodically:
  • Collect Rent Monthly.
  • Quickly Address Any Maintenance Issues.
  • Renew the contract or negotiate new terms at the end of its period.
  • There are some real estate companies specializing in property management that can handle property maintenance and other matters.
Finally,
Renting your house can be a smart step to achieve additional income, but it requires a commitment to all details to ensure the success of the process. From preparing the property to choosing the right tenant.

It is worth noting that Rize for flexible rental solutions can handle all the a forementioned steps through its official app. Learn more about Rize.

Start your journey in the real estate world with Rize now!

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