Renting out a flat is a great way to boost your budget

Is renting out your flat a risky investment? Not if you approach it sensibly! It can instead prove an easy way to earn money and patch up the household budget.

Make use of what you have!

If you are in a comfortable situation and one of your flats is standing empty, don't be afraid – make use of what you have. Don't wait for your children to grow up – in the meantime you can save for their future or simply earn some money for your own needs. How do you get started with renting out? The key to success is choosing a good estate agency. The most important thing is that the people who will help you have experience and knowledge and come recommended by others. Choosing the right estate agent is no small challenge. But be patient – a lot depends on it!

What do you want to achieve?

Ask yourself why you want to rent out the flat. The most common answer will, of course, be: I want to earn money. But what matters most to you? A quick let, a high price, or perhaps you would prefer to leave all the formalities to an agent? Think about it and be clear about your expectations. This will be key information for the estate agency.

On your own or through an agency?

Many people are unsure whether to use the services of an estate agency or to try to rent out the flat themselves. No wonder – renting out your flat is an important life decision, so it is worth weighing up all the pros and cons.

The advantage of acting alone is certainly that you do not pay the agent's commission. Many people also see it as a plus that they personally control the choice of tenant. But there is no such thing as a free lunch...

First of all, there is the time saved. An estate agency will prepare a thorough advertising campaign and professional photos of your flat, and will also handle the flow of information. Answering phone calls and emails, updating advertisements, keeping track of deadlines – it all takes a great deal of time and it is quite easy to get lost in it. The agency will also take over the duty of showing the flat, and of talking and negotiating with potential tenants.

And the fear of losing control over the choice of tenant? Here years of experience play the key role. In their careers, estate agents have met such a wide variety of people that their screening and verification of tenants is most often impeccable. Remember that your opinion of the estate agency is important, and the people you will work with know this very well. They care no less than you do.

Looking to the future

On the internet you will find plenty of stories about how renting turned out to be a failure. Tenants who do not respect your property, complaints from neighbours… Of course, we may meet all sorts of people along the way, and many of these stories can evoke real sympathy. However, you can protect yourself against many such situations. The most important thing is the agreement, which, if professionally prepared, will guarantee our rights. It is the best safeguard against any unpleasant situations. Once such an agreement has been signed, all that remains is to enjoy the money you earn and look to the future more calmly.