Leasing Your House: A Quick Guide

Bangalore: Investing in real estate always proves to be profitable, if planned out correctly from the initial stage. However, property owners become apprehensive when they put their house on lease, thinking that the lessee may create trouble during the time of vacating the house and also can damage the house and its contents. Such reasons govern property owners to keep their house vacant instead of landing into trouble.  

But, if owners can acquire the correct method of leasing their property, they can maintain a trouble free process of leasing and can enjoy earning good profits. Below are few things to consider, reports Amit Shanbaug of Economic Times.

How to set your home on lease

Advertising the house is the first and the foremost step to start with. You need to introduce your house in the market and advertising your house on various local newspapers and online portals are the best platforms to proceed. Even there are free online websites and portals where you can post your house advertisement. But, the best way to lease your house is by hiring a good real estate broker which will also save your time and sweat. A real estate broker can also perform odd jobs like police verification of the lessee and registering the lease agreement, which are bit challenging for non-experienced. However, it is necessary to register the agreement if the lease period extends over 11 months. Besides, real estate brokers usually charge one month lease rental as their fee.

It is always better to ask for security deposits from lessee for any kind of damages on your property.  And, if the lessee maintains your property in good hand then you need to return the deposit amount at the end of the tenure period.