Do you have a property that no longer meets your current needs and you want to capitalize on it without selling it?
Do you want to make an investment that will bring you a steady income and a good return? Nothing easier. In the context of a high inflation rate, it is safest for investors to protect their finances by investing in real estate and enjoy passive rental income.
What are the steps you need to follow to get the best rental yield? Nordis Real Estate specialists offer you 5 tips:
1. Start by getting informed
First of all, you need to understand the market. Use an informed real estate consultant to make a correct valuation of the property and to correctly position it in the market. The valuation of the property must take into account many aspects, such as: the area in which it is located, the type of building, the year of construction, the characteristics of the house, the availability of parking spaces. The correct positioning in the market must take into account the stock of similar properties in a specific moment. Only a consultant who has a vast portfolio of properties in your area and considerable experience in the field can give you the right advice.
2. Set your priorities
Every landlord wants to rent the property in the shortest time, at the best price and to the best tenant.
Determine which type of client you want to address and communicate this to your consultant, so that he/she can establish the marketing strategy.
Depending on your needs and priorities, as well as depending on the type of tenant you want, the consultant will make you a price proposal and an estimate of the trading time.
3. Prepare the property
Before you rent the property, you need to decide if it will be furnished or unfurnished. Regardless of the option you choose, it is important that the home is welcoming. It is necessary to be freshly painted, to be clean, and all installations and household appliances functional and in good condition. If you choose to provide the property furnished, the furniture must be also in good condition.
Neutral colors and a harmonious color combination are often more attractive and will allow potential tenants to imagine themselves living in the house, giving them the opportunity to personalize it with small personal items.
An experienced consultant can advise you on how to arrange the house for the photo session and for viewing. The small details can turn any house into a home.
4. Know your responsibilities
The decision to rent means that you will make the transition from being the owner of your house to being a landlord, and new responsibilities come with this status.
If you have a loan, check the terms of your mortgage contract and obtain the lease agreement from the financing bank.
You will be responsible for all repairs and refurbishment of the structure, facilities and exterior of the property, when necessary.
Ask a real estate consultant abount sthe taxes on rental income and on the property are, depending on its destination (office or residence).
5. Choose the right agency
Contact a trusted real estate agency and you will have the opportunity to work with experts in the field.
Nordis Real Estate has experienced real estate agents, university graduates, who operates according to a code of ethics and good practices, to meet all customer requirements.
In collaboration with Nordis Real Estate you will benefit from:
- Dedicated real estate consultant, speaking at least one foreign language
- Complex property analysis
- Setting a competitive price
- A dedicated marketing plan
- Home – staging and professional photo session of the house
- Creative and attractive ads
- Promoting the property to the agency’s portfolio of clients and targeting new potential clients
- Selecting tenants according to your criteria
- Legal advice for drafting a balanced lease contract
- Negotiation of contractual clauses
- Resolving all aspects related to the rental process (including, but not limited to drafting an energy certificate, drawing up the hand-over protocol of the rented space, recommending professional cleaning companies or property management companies).
Thousands of landlords have chosen our services during the last 12 years and many of them later chose us as consultants for new real estate investments.