If you have thought about getting that extra income and you want to ensure that you get this in a legitimate way then this article is something that should spark your interest. There are many ways in which you can do this. However, if you have an extra house or if you are going out of your house for a long period of time, then you can consider giving your house on rent. However, giving your house on rent is not an easy thing to do and there are several important things that you have to be mindful of. Here are some tips on these things.
Have an Agreement
The first thing that you should do is to have an agreement with those you are giving the house on rent to. This way everything about the house and obligations of both parties will be on this agreement and you will not have to worry about anything that happens. For an instance, if you want to specify that a certain electrician Brisbane North should be the one who conducts repairs during the period of the rent contract, then this should be mentioned in the agreement as well.
Have a Minimum Price for Fixing Things
When anyone is living in a house there are bound to be small incidents that will require fixing. Therefore, it is important that you mention this too in the agreement. You can mention that something under a particular price range should be borne by the tenant, however, if it is a default in something like a pressure pump that requires hot water repairs that the land lord will bear this cost. This is the only way to have a fair agreement.
Find Good Tenants
It is not an easy thing just giving your house on rent. There are many things that you have to be aware of. For an instance, the type of people you give it out on rent to should be something that you bear in mind. Therefore, ensure that you think about this and that you do not just give it to the first person that comes along. Ensure that you do a background check so that you do not fall in trouble later on.
Have a Fair Price
The monthly rent amount that you charge should be something that is fair and suitable to the house, For an instance, you can look around and see for how much the houses around you are on rent for and make a fair decision based on that and the number of rooms and other utilities in the house you are giving for rent. This way you will have a fair price and this will attract more people too.