What You Need to Know About Letting or Renting Out Your Property

Whether you have turned your home into an inn or you’re planning to rent out your property for home or office use, there are different considerations that you need to think about before signing that contract.

What are the different considerations in letting or renting out spaces?

Normally, individuals who are interested in turning their lovely home into an establishment for letting need to think about their resources and some of the issues that come with it.

Are you someone who values privacy? Then renting out a portion of your home may not be ideal for you unless you have a separate building.

How will you deal with office or home maintenance and repairs? Will you shoulder all expenses or just the major repairs? Make it clear that they need to report any maintenance issues straightaway and in writing. At the same time, you should let them know how you will handle repairs and maintenance; for instance, if repairs are non-emergent, it will be handled within 7 days while emergency repairs will be addressed within 24 hours. Likewise, they need to know that damages that they have caused will be their responsibility.

Are you aware of the rules and regulations that come with it? There are restrictions and things that you need to comply with in this business not to mentions the fees and taxes that come along with it.

Do they have a designated space for parking? If so, let them know exactly where your tenant(s) should and should not park to avoid cluttering your front yard or driveway.

What are your expectations of garbage disposal? Getting tenants to dispose their waste properly can give you a major headache. Clarify when and how they should dispose their wastes.

Are you going to allow them to have pets? If yes, then tell them what types of pets and how many they can bring with them. You may want them to ask for your approval first prior to bringing a new pet into their house. It is also best to mention that they need to ensure the yard is pet waste-free.

Will you let them alter some or any part of your space property? It’s best to be honest with them at the start which areas they can improve to make it feel like their home or office. Better yet, have them consult with first before they make any changes. Paint, dividers and landscaping are some of things that tenants may modify.

What do you expect from them when they move out? At the end of the lease, do you expect them to return the paint to its original colour or repatch nail holes? What about surfaces and debris? Detail your expectations clearly so that they will know what they need to do in order to get their security deposit. You can even give them a list of office and home cleaning professionals to help them transition out of your property smoothly.

If you’re on the other side of the fence and are considering renting a home or an office, our guide on pre and post occupancy maintenance work contains details that you might find extremely helpful.

For office and commercial cleaning needs in London and surrounding areas, call RPC Cleaning on 020 8994 4778. With over 35 years of experience, we can assure you that you’ll enjoy what you do, look after your customers and everything else will take care of itself.