How To Make Money On Housing

Table of contents:

How To Make Money On Housing
How To Make Money On Housing
Video: How To Make Money On Housing
Video: Jason Hartman (Housing Market Update, How To Use Inflation To Make Money In Real Estate) 2023, February

A vacant apartment or even more so a house is a great asset that can allow you to have a fairly large additional income without much effort. An apartment or house can be rented both for a long term and for a short one. Realtors will reliably help you to rent an apartment, but you can find a tenant on your own: almost everyone has friends who need housing.

How to make money on housing
How to make money on housing


Step 1

You can rent an apartment for a long term (for a year, two, several years) or for a short term - daily. The advantage of the first option is its great reliability. You will choose a certain tenant who will make a rather favorable impression on you, and you will rent the apartment only to him. In the case of daily renting an apartment, tenants will often change, in addition, if damage to property is found, you will not always be able to find them and demand compensation for damage: these can be people from another city who have come on a business trip and have already left home.

Step 2

Most people prefer to rent an apartment for a long time. This is usually done either through real estate agencies, or through acquaintances and individuals. It is believed that the latter method is better and that agencies should not be trusted. This is not always the case: unfortunately, both agencies and certain private traders can deceive, in addition, it is not always profitable to rent an apartment to acquaintances, since it will be more difficult for them to raise the rent without risking ruining the relationship.

Step 3

If you do not want to rent an apartment to individuals or friends or have not found suitable candidates, then you can contact a real estate agency. The agency in a fairly short time (sometimes in a few days) will select a tenant for you who will meet any of your requirements (no children, non-smoker, etc.). For their services, agencies, as a rule, take a commission from tenants. All you need to do is show the apartment to a potential tenant.

Step 4

It is worth remembering that those who wish to rent out an apartment for daily rent are also better off contacting an agency: as a rule, agency clients are more reliable. In addition, the agency can help in a conflict situation.

Step 5

When renting out an apartment, be sure to conclude a competent lease agreement. Remember that if you conclude a lease agreement for real estate for a period of more than a year, then you must register the agreement with the Rosreestr authorities, otherwise it will be declared null and void. It is worth drawing up an annex to the agreement with a list of the property available in the apartment in order to prevent disputes when tenants leave the apartment.

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