What to remember if you want to rent out a property

Property rental is a solution used by many people. The main customers are students and young people. It gives them a chance to become independent. A tenancy agreement should be well drafted and carefully thought through. Find out what to remember if you want to rent out a property to third parties and avoid setbacks.

Preparing to let

Renting out a flat is a serious investment. Many people choose this route because it often proves financially worthwhile. Every solution has its drawbacks and advantages. Let us start, however, with the kinds of flats that are most sought after for renting. The flat should have a few separate rooms, a kitchen and a bathroom. Two-room properties are the most popular. Heating also matters: central heating proves the most attractive because it requires no additional preparation. The flat may be partly or fully furnished. The basic appliances are a washing machine and a fridge. Basic furniture means a fitted kitchen, a bed and a wardrobe. Landlords want to avoid the cost of renovation. It is also worth thinking about who you want to rent the property to, because this affects expectations, earnings and how the premises are prepared. Students also readily choose studio flats.

READ ALSO – IS IT WORTH RENTING OUT A FLAT BY THE ROOM?

What to remember if you want to rent out a property – the tenancy agreement

The next step is to draw up a correct, favourable tenancy agreement. This is very important for both parties, because a correct document gives a guarantee of security. It protects the owner against damage and guarantees timely payment of dues and fulfilment of obligations. Tenants are also safe: all charges are precisely defined and the obligations of both parties are set down. Information contained in a well-drafted tenancy agreement:

• the deadline for payments (including rent)
• the preferred form of payment (bank transfer or cash)
• the amount of the deposit paid
• the consequences of any damage caused in the flat
• a clause stating the current condition of the flat
• information about the owner's visits
• the gas and water meter readings
• the technical condition of the flat can be attached

Is location important?

Location affects interest in a given property and its rental prices. In large cities such as Katowice, the busiest season for signing new agreements starts around September.

FLATS IN KATOWICE LIGOTA – SEE THE LISTINGS