Category Archives: Property Rental Tips

Tips on How to Save Money as a Landlord

save money as a landlordHow to Save Money as a Landlord

Being a landlord is not all milk and honey, as somebody might think. Today’s financial climate is affecting everybody, even the landlords, and new laws like EPCs (Energy Performance Certificates) don’t help them, as well. If you don’t pay attention, soon the rents won’t cover the costs of owning a rental house. But, using a few tricks can help you save some money as a landlord.

  1. Shop around and get quotes for all the repairs that need to be done. Lazy landlords will take the first offer and throw away a lot of money. But, if you shop around for parts or labor, you can save significant amounts. Also, talk to your friends and relatives. It is very probable that some of them know or know someone who knows a jack of all trades, a handyman who can take care of the maintenance for less money than the one you will find in the regular way. And don’t forget – there are many things in the apartment that you can repair yourself like changing bulbs, the air conditioning filter, checking for leaks under the sinks, and so on.
  2. Don’t get too picky over your tenants.  Also, don’t insist on keeping a high price if that means that your property will stay vacant. The worst possible scenario for a landlord is to have a rental apartment empty since it means losing a month or two worth’s of rent. As long as your tenants pay the rent, keep the place tidy and don’t destroy walls and furniture, they are good tenants. If lowering the rent for 50 dollars means that you’ll find normal people to live there, consider it an excellent idea.
  3. Don’t use letting agents. Internet is an excellent place to find a tenant for free. There are numerous websites where you can advertise for free and thus avoid paying as much as 10 per cent of yearly rental income to an agent for finding you tenants.
  4. Use tenancy deposit schemes. Tenancy deposit schemes serve as a guarantee that the tenants will get their deposit money back once they leave your apartment and it is required by the law. Although there are some tenancy deposit schemes that require a service fee, there are a few where you can deposit tenancy money for free. Choose them to put your tenant’s deposit money and save yourself trouble of paying three times the amount if you fail to do so.
  5. Check the going rental rates. The real estate market is collapsing and not many people can risk buying an apartment these days. For that reason, the rents are rising and you have to be sure that you are renting at the going rate. Check the rental websites, the newspaper ads, and ask the local letting agents to make sure the price you’re asking is in the accordance with the market’s demand.
  6. Be fair to your tenants. Not many tenants are good, and even less are perfect, so if you find good tenants who are paying on time, respect your property in the way that they are not destroying furniture, try to keep them in the apartment for as long as possible. Be kind, do the necessary repairs on time and attend to your responsibilities as agreed.

Remember that you can find someone to rent out your room right here on bey3.com & it’s completely free to use so happy hunting!

Just go to bey3.com and click on the property link for the relevant county and then click the Post An Ad button. It’s that easy!

Thanks,

bey3.com Team

Posted in Property Rental Tips, Tips For Landlords | Tagged , , , | 332 Comments

How to Rent your Property Online Quickly

Renting Property OnlineDue to shortage of time, working people are more and more turning to the modern media when in search for the apartment to rent. Indeed, webpages and social networks don’t have working hours, so whatever time people finish the work, it’s still not too late for them to check out new rental ads. Internet became the main channel when it comes to property advertising; it speeded up the good’s traffic and improved the offer of rental apartments at the market. How to make your rental ad more attractive? How to rent the unit in shortest time possible and avoid repeating the ad for weeks or even months? Here are a few simple tips on how to present your property in its best light and find a great tenant within days.

1. Learn to listen to the market.
Check out the rates of the similar-sized apartments in the neighborhood and don’t overprice it. If you ask for more money than other landlords, the possibility is that your property will stay vacant for longer time. On the other hand, if you lower the apartment rent price for just a small sum of 25-50 dollars a month, you’ll beat the competition on the market and the chances are that your property will be rented in just a couple a days.

2. Pictures, pictures, pictures!
Every rental portal has the option for uploading photos of your apartment unit. Of course, it is better to upload bright and clear photos of a tidy place, but including any picture is better than none. Make a photo of every room from different angles and upload them to the website. This way you’ll save time explaining the prospective renters the technicalities and the structure of the rental unit and you will save their time as well since they will know what to expect.

3. Provide excellent details and information.
Include as many details as you can when writing the ad. You never know what information is important to a future tenant. The easiest way is to give a link to address in Google Maps. A typical student will be pleased if there’s a night club or a café in the vicinity, but families with small children will be thankful for a park in front of the building. The key feature to some people is the proximity of the kindergarten, school or faculty; some other would like to live near their working place or tourist attractions. Besides, include the details about the rent, deposit (if you ask one), whether the bills are included in the price, number and size of units, household appliances (fridge, stove, washing machine), parking, transport links, move-in date and, of course, your details – both the phone number and the email address, so the people can contact you the way that suits them best. And don’t forget to check your inbox and to charge your cell phone battery every day.

4. Don’t be too choosy.
Of course it’s OK if you don’t want a smoker or a pet in your apartment, but trying to control when the renters can have guests and who can stay
overnight will certainly reject the apartment seekers. You cannot rent a flat and expect the people not to cook or not to do the laundry in it. No matter how much you want it, it’s a bad idea to require a drug screening or flawless character from your tenants, as well as to conduct unannounced inspections of the apartment. If people wanted to live in prison, they would certainly find some other way to get there for free. This isn’t to say take the first person who comes along but rather don’t restrict yourself to much one who you choose.

Just some free tips on how to write a good ad to help you rent out your property online quickly. With Bey3.com you can rent out your property in 7 different countries in the MIddle East for Free.

Posted in Property Rental Tips | Tagged | 122 Comments