Points to Keep in Mind Before Becoming a Landlord
Do you want to buy 2 BHK flats in Kolkata? Wait a bit. Before you become a landlord of your property in Kolkata, you should know some vital points for the security of your property.
You have a property which is not in use for the past many years. You have decided to rent it and earn money every month. Renting properties has become a booming business for land owners. There are a few things to take into account before you rent your property. What are they? Let us have a look in the points mentioned below.
Your availability matters, if you are planning to become a landlord. Some emergencies might occur where you want to be present in front of your tenant. If your property is in a different location, then how early will you be able to reach at your rented property? It is better to rent a property which is close to your home.
Present an up-to-date home
Whether your property is old or new, you should see that it’s in a top condition. You cannot offer a property which is not worth-staying. If your property needs repairs or renovation, you should get it done before you invite tenants to your property.
Keep cash ready at hand
Earlier, the tenants used to do repair work needed for their properties. In the present days, it has become a duty of a landlord to get the repair work done for the tenant’s home. If there is a leakage on the roof or plumbing-related issues, it will be your responsibility to spend cash on the repair parts. Keep cash handy at all times.
Get timely rents
You can be a good friend of your tenant. When it comes to collect rents, you should be strict to yourself. Do not get swayed by your tenant’s melodrama. Fix a date of every month and make sure to collect rents on the specific date. Before you allow your tenants to start living in your 3 bedroom flats in Kolkata on a rental basis, you should make a clear point on the agreement paper about getting rents at the stipulated time.
Be a smart investor by having a proper knowledge on renting your property. Keep the aforementioned points in mind before you let others to stay in your property which originally belongs to you.