Why Renting Property Privately is Beneficial?
Why should you rent your property privately?
Renting a property privately is highly beneficial to the landlord because:
It is economical:
You do not need to pay a high sum to an agent as a commission. If you take care of all aspects of managing your rented property, you will not need to pay a fee to a professional property manager either.
There is no middleman between you and your tenant:
Selecting the tenant is completely in your hands. You can set your criteria and select a tenant according to those. You can directly resolve all the queries your potential tenants may have about the property.
However, when an agent lists the property, he will do it only on certain limited sites.
How you can rent a property privately:
- For renting it privately, you will need to get your home ready for the market. For this, you will need to conduct all the repairs and do the painting if required, etc.
- The next step is fixing a rent for your home by comparing it with the rental of similar properties.
- Connect with potential tenants and screen them.
- Complete the entire documentation.