Before renting a home: tips for landlords and tenants
At this point, it is not news to anyone that rental prices are skyrocketing and that rent is, for now, a stressed market. That is why, when signing the lease of a home, both the owner and the tenant must ensure that the agreement includes all the parties desired by both. Even so, after you have signed the rental agreement, certain problems may arise. Today, we give you different tips so you know what to look for before making the final decision to rent a home as a landlord or sign a lease as a tenant.
Tips for owners:
- Choose well: you must weigh all the options presented to you and choose the best candidate to rent your home, which is not an easy task. To do this, we recommend setting an income slightly lower than the average of apartments similar to yours in the same neighborhood. After receiving the first requests, ask for data on the solvency and income stability of the future tenant and choose the one you think is the best candidate.
- Make the clauses clear: you must offer a good agreement, so we recommend making the clauses of the contract clear so that there is no confusion about who takes care of what and explaining in a pedagogical way the extra clauses that are added.
- Detailed inventory of the property: with a detailed inventory, you will specify what the content of each room is, clarifying the state in which the appliances, boilers, and blinds, among others; thus avoiding problems when making repairs or returning the bail.
- Non-payment of rent insurance: Hiring non-payment of rent insurance can be very useful and advisable, as this will avoid unnecessary misunderstandings.
Tips for tenants:
- Characteristics of what you are looking for in a house: you must determine if the apartment or house has what you are really looking for (location, size, conditions about having a pet, among others) to find what best suits your needs.
- Possible problems: we recommend that you list those possible problems that the property may have before signing the contract, whether they are damp or blinds that do not rise, because everything must be in good condition and included in the inventory.
- Price of the house, budget you have and monthly expenses: when signing the contract, you must remember that the rent should not exceed, in any case, 35% of your monthly income. We also recommend that you consider all expenses. We also recommend that you take into account all the additional expenses that you must assume month by month and the budget that you have to determine which income can go better.
Liability insurance in housing: we recommend the contract of a home insurance as a tenant, as this will cover your civil liability.
