The valuable experience when renting out apartments to other people
Currently, the rental of houses or apartments is a business direction that attracts a lot of attention because of its low-risk level, high economic efficiency, and stable income. However, in order for the lease to proceed smoothly, you should still explore the relevant issues, especially the establishment of contract terms and selecting tenants to protect your rights and Avoid the trouble later. Here, we will give you some valuable experience from reality when renting a house/apartment to others.
Experience 1: Please refurbish, furnish apartments for rent before renting
The form is always an important factor in leaving a first impression, so you must ensure that your apartment is always in the best condition, which will give you many rentals in Masteri Thao Dien opportunities with High prices and find suitable tenants.
For the exterior: Before renting, you should pay attention to repair each item such as: repairing cracks on the wall; paint new windows, doors or balconies as needed; Decorate some ornamental plants in front of or outside the balcony area…
For more: Apartment for rent in Ho Chi Minh
For the interior: Paint new rooms; replace obsolete furniture items; clean up and remove unnecessary things to create more space; repair if any damage (leaking pipes, wall cracks, broken bricks, replacement of new light bulbs …); clean the house clean and remove unpleasant odors.
Make sure the house is airy, the interior is clean and still in good working order. In addition, you must pay attention to the safety of gas, explosion and fire protection standards
Experience 2: Analyzing and offering reasonable rental prices
First, you need to base on the factors: Masteri Thao Dien apartment location (what direction, what floor), area, interior condition, business advantage or representative office or not … to determine whether or not determine the real value of the apartment. After that, you can refer to the rental prices in the market or surrounding areas; estimate the costs of checking and upgrading the apartment periodically and repairing and maintaining utilities and equipment as needed, then set a reasonable rental price.
The apartment rental market is now also entering the competition, so you can offer a softer price than the common ground to attract customers and obtain long-term lease contracts (However do not give prices too low compared to the market because it may cause bad consequences to the rental market). Typically, landlords will rely on the currency’s inflation index and the market commodity price index to adjust the annual rent, so you don’t need to worry about the price offsets. original lease. If you still do not know how to set a price, you can look to real estate brokers for specific support and advice.
Experience 3: Contact the broker for assistance
There are many ways to get information about your apartment to the public, the simplest thanks to the recommendation of friends, HCMC relatives, and neighbors. Or you can post information for renting apartments on classifieds websites, real estate websites, paying attention to selecting reputable websites and having a large number of visitors to make sure your information is transmitted to the right. subjects in need. In addition, you can entrust to experienced real estate companies to find tenants on your behalf. Once you have chosen the right broker, you should agree on your advertising plans, brokerage schedule, and commission rates after successful trading.
Experience 4: Choose the right tenant
You need to identify the tenants you are targeting to facilitate the search. If you rent a cheap Masteri Thao Dien apartment for rent, it will be suitable for those who are still unique or the object of office workers; if you rent a high-class apartment, newlyweds, good-income people or foreigners will be the objects that you should target; If you want to rent a shophouse, then small businesses or startups will be your priority.
When interacting with people who come to see your home, pay attention to their honesty, ask lots of questions for more details about them, and then choose the most suitable tenant out of them. When renting, you should also specify the regulations on the number of people to facilitate the management.
Experience 5: Be careful when signing a lease
Although the rental of apartments brings a small profit, the landlord must pay attention to the rules for tenants and the strictness of the lease to avoid the risks incurred.
When making a lease, the terms should be specific and detailed, do not forget to specify how to deal with violations (such as late payment of rent) to easily handle arising situations. after that. Whether the tenant is a company or an individual, in the contract, you should keep the following in mind:
It is clear who will pay the tax every month.
Specify the amount of rent in Vietnam dong and, in accordance with the law, do not agree in foreign currencies. Otherwise, you will unintentionally invalidate the contract.
If you agree to change the rental price if the contract is 5 years, then after 1-2 years can be renegotiated, usually will increase by 10-15%.
There must be a clause in the contract that states whether the company or individual is allowed to rent out the room or the whole house.
It should be mentioned that the tenant may not change the structure of the house without the permission of the landlord.
If the lease is for 6 months or more, the contract must be certified by a notary office to ensure the legality and serve as a basis for later dispute settlement.