The preparation of a rental is an essential point to rent your property in an optimal way. It will be a question of determining the type of rental that you wish to set up and of carrying out all the steps for the rental.
How to prepare a rental? What are the steps to rent your property? What are the different types of rental?
The Key Steps to Renting an Apartment
Have you just invested in an apartment or do you want to operate a second home through real estate rental? It remains to know the steps to take action. To do this, you must start by choosing your type of lease (bare rental, furnished, seasonal, etc.) according to your profitability objectives or the type of occupation. Then, you have to choose between renting alone or with a real estate agency like nyrentownsell.
Once this choice is made, the property will be advertised to find the tenant. When the tenant is selected, a lease must be signed between the owner and the tenant. Entry into the premises is completed by an entry inventory. Finally, all you have to do is manage the rental (rent collection, receipts, occasional repairs, etc.).
The owner of the apartment or house for rent can also go through a real estate agency for the rental and / or rental management. Preparing for the rental is also the time to protect yourself against the risk of non-payment by subscribing to unpaid rent guarantee insurance. Nyrentownsell can help you to know rent of apartments in Tribeca, New York.
The Different Types of Rental
There are several rental options. The type of rental chosen depends above all on your objectives: tax exemption, long-term rental, building up your assets, occupying the rental premises during the summer periods, etc.
- Bare Rental: this is the most used rental. The house or apartment is rented empty (without furniture). The preparation of the rental is therefore simpler and presents less investment for the owner. However, the tax allowance is less attractive (30%). The bare rental is a medium-long term rental.
- Furnished Rental: furnished rental is a rental where the property has minimum equipment.
- Furnished rental allows the tenant not to invest in furniture to settle in (ideal for students or young executives). For the owner, the rent is more interesting because the furniture enhances it. The tax allowance is also more attractive.
- Co-Renting: This is a rental with several tenants who will occupy the same accommodation. Each tenant has a minimum bedroom for privacy. Co-renting offers a higher return to the owner and also more security, because the co-tenants can be solidary with each other depending on the type of contract .
- Subletting: This is a rental made by a tenant. Subletting is only possible if the owner gives his permission. The amount of the rent must not exceed that fixed in the context of the rental. It can be a house or a parking lot.
- Student Rental: Student rental is intended for students. It is similar to a furnished rental, except that the rental contract is for 9 months instead of a year. For the owner who wishes to tax exemption, there are student residence programs.
- Seasonal Rental: Seasonal rental is intended for tourists. This is a short-term rental (90 days maximum). It gives the owner the advantage of occupying the premises for the period he wishes to enjoy it.
- Parking Rental: Parking rental offers the advantage of being more accessible for investors with lower capital and gives a better return. Maintenance charges are generally low. On the other hand, in large cities, parking spaces are becoming more and more expensive. (lasvegasoms.com)
The Decoration of a Rented Property
The decoration of a rented property depends on the type of rental chosen. It is important because in a context where your rental is in competition with other properties, the decoration of your apartment will make it possible to have the favors of tenants in search. The decoration of a rented property also makes it possible to justify a more expensive rent (if the materials are noble). Do not neglect this part of the rental.
Agency Fees for the Rental
To conclude, if you wish to go through a real estate agency to rent out your apartment and/or provide rental management, agency fees are requested in return.
These fees justify the work carried out for the rental and rental management (management of the relationship with the tenant, production of receipts, etc.). Agency fees are paid by the owner and the tenant. The tenant’s fees are governed by the Alur law. Depending on the area, there will be agency fees between $12 and $16 per m2 for the tenant.
The owner must pay an average of 500 euros for a rental and 4 to 8% of rental income for the management of the rental.
An online real estate agency is revolutionizing real estate
Fortunately, innovations now make it possible to go through an online real estate agency with a fixed commission. The online real estate agency uses current technologies (online services, digital distribution platform, etc.) to offer a fair price and quality service to its customers.
The fixed-commission online real estate agency offers a fixed price of $408 for the rental of your property, regardless of the nature of the property to be rented (house, apartment, parking space).