Leasing your property on a short-term basis helps you achieve a higher return on investment without you having to give up your access to your property. Which means that you can stay when you want, make money off it when you’re not around and bring in rental income during void periods or whilst securing a long term tenant.Here's what you need to keep in mind before signing on the dotted line.
Step 1: Always choose a reputable leasing agency
Ask your friends or family to recommend one.
Step 2: Enquire about other fees and charges you will be responsible for
of fees including utility bills, connections charges, service fees, maintenance contract and insurance.
Step 3: Find out how the agency you will be working with operates
Will the company only lease your property or do they also manage it? What are their standards for inspections, cleaning and arranging maintenance? What kind of clients rent the property? Is the company aware of rental restrictions within a development?
When you lease your property through Better Homes, we assist with maintaining swimming pools and gardens, deep cleaning and external cleaning of windows, furnishing your property on your behalf and also arrange for electricity, satellite and internet connection services.
Step 4: Determine your own expectations
Will you use your property during the year? Do you have financial obligations to cover, such as, a mortgage? Do you intend to sell your property within a short period?
Step 5: Get quality furniture
Good quality furniture and equipment will ensure that your property has a longer life cycle.
Step 6: Assure that the property is viewed prior to signing the purchase document
A professional company will provide you complete feedback on rental revenues, realistic occupancy levels and other requirements related to furniture and equipment.
Step 7: Carefully read and understand the terms of the contract before you sign
Find out the documents are required to contract your property with a short-term rental operator. Check with your consultant for mandatory documents. Always keep the original documents with you. Only submit copies to the agency.
Step 8: Confirm when you will be able to handover the property
Assure that all assets that are handed over, including all keys, will be accounted for. This should be done with an inventory list signed by both parties.