How to rent an apartment correctly and safely

Renting an apartment by the day or for a long time is a good way to earn extra money. If this is a new experience for you, it does not hurt to understand the nuances first. We tell you how to prepare the accommodation for tenants, how to protect yourself, whether it is worth concluding a contract and much more. This information will help you rent successfully and make a good income.

How to prepare an apartment for rent

If the apartment is rented out for the first time, and you plan to make repairs in it first, it is best to equip it immediately for the potential client. For example, the housing for students can be conveniently divided into zones, each of which will have a sleeping place and a desk. If you are planning to rent an apartment to tourists, then you should stock up on several sets of bed linens, towels, and cosmetics.

To rent out your apartment profitably, follow these tips for preparing your apartment:

• Make minor repairs if the condition of the apartment requires it, for example, there is peeling wallpaper, a dripping faucet, a jamming lock on the front door;
• Do a general cleaning in the apartment or use a cleaning service;
• Provide future tenants with appliances, Internet, television;
• Buy the necessary furniture, if you plan to rent your apartment for a short time - a bed or a sofa, a cabinet, a table, etc;
• Remove all personal belongings from the apartment and throw out the junk;
• Ventilate the apartment before showing, make sure there are no unpleasant smells;
• When renting a property, leave clean linens, towels, dishes, soap, and shampoo in the apartment before the tenants move in.

Realtors say that clean and well-maintained apartments are rented faster and more willingly. In addition, it is possible to set a more favorable rent for the owner.

How to protect yourself when renting an apartment

The easiest way to safely rent an apartment is to take a deposit. Paying in advance for the first and last month of your stay no longer surprises anyone.

The deposit can be one month's rent or, as in the example above, two months' rent. If you are worried about the property, since the apartment will be rented by a family with children or a couple with a dog, you can take a deposit of 2-3 months' rent.

What owners are used to calling a deposit is actually a deposit. Rental deposits come in two varieties:

• the guarantee is just the "last month's payment". This amount is considered a guarantee for the owner in case of insolvent tenants;
• insurance is an amount agreed between the landlord and the tenants that protects the former from damage to the property in the rented accommodation. If the tenants have not damaged anything, they get the deposit back when they move out. If furniture or appliances are damaged, then the owner covers the repairs from the deposit.

If the landlord uses a security deposit or security deposit against the tenant, it is best to spell out everything in the contract: the amount of the deposit, the procedure for transferring the money, etc.

What to do to find tenants faster

Renting an apartment quickly is quite realistic. Use the following tips for this:

1. Prepare the apartment as described in the section above.
2. Take attractive photos from different angles.
3. Make an effective ad. Write the text with the target audience in mind. If you want to rent to a couple with a child, write whether there is a school or a kindergarten nearby.
4. Screen out unsuitable clients. Mark in the ad if you do not plan to rent the apartment to students, people with pets, etc.
5. Specify an objective price. Calculate the rent taking into account the size of the apartment, state of repair, availability of infrastructure nearby, provision of furniture and appliances, etc. If you put too high a price compared to similar housing, you will not be able to rent the apartment quickly. But you also do not need to rent it for nothing.
6. Use all possible channels to advertise your home. These can be printing publications, online classifieds, social networks, real estate agencies. You can also just tell your friends and colleagues that you are planning to rent out your apartment and are looking for honest tenants.

In order for the property to quickly find its customer, it is also important to establish comfortable communication with potential tenants. To do this, you should specify several contact options in the ad: phone number, email, social networking nickname, and messengers. Calls and messages should be answered promptly, and housing viewings should be organized.

Who you shouldn't rent to

If you are worried about getting caught by unscrupulous tenants, immediately identify for yourself the categories of clients with whom you do not want to cooperate. This way it will be easier to weed out tenants at the initial stage.

That's who you shouldn't rent to:

• tenants who cannot show their passports;
• people who claim they don't have a job now, but they will find one soon;
• to foreign citizens who have overstayed their visa and do not have normal documents;
• large companies, whether it's eight students, a construction crew, or a group of seasonal workers.

Many landlords do not want to rent their properties to families with children or tenants with pets. Although it is better not to refuse these categories of customers categorically, because situations are different. If the child is old enough, he/she will not paint on the walls and spoil the mattress on the bed. The same situation is with the dog: a pet of age most often just lies down, rests and behaves quietly.

If you still have concerns about the preservation of property when renting to a couple with a child or pets, you can take a security deposit and record all points in the contract. But in return there is a chance to get loyal customers, who will rent an apartment for a long time, because finding a new one for them is a task with an asterisk.

Why do you need a rental agreement

If you want to reduce the risks when renting an apartment, it is best to sign a contract with tenants. If the term is up to 2 years 11 months, the document does not require notarization. Such a contract will also be enforceable (Article 811 of the Civil Code of Ukraine).

Why make a contract between the landlord and the tenant? A contract is, above all, a pledge of security. The document protects the rights of both the owner of the apartment and those who rent it.

Here are the items that should be in the lease agreement:

• Full name, passport data and registration address of both parties;
• The characteristics of the apartment - address, number of rooms, floor, area, availability of amenities (furniture, appliances) and communications;
• on what basis the owner owns the living space;
• what purpose the apartment is rented for, who can live with the tenant (spouse, children, pets, friends);
• for how long the apartment is rented;
• amount of rent, payment procedure, conditions of return of deposit/avance;
• penalties if the lease is terminated before the agreed term or if the terms of the contract are not fulfilled;
• the procedure for compensation in the event of damage to property (furniture, appliances, plumbing);
• conditions for extending the contract upon expiry of the document;
• important points - the order of the owner's visit, the increase in rent, the possibility of repairing or replacing locks, the terms of payment for utilities, etc.

Everything of concern to the property owner can be described in the lease agreement. It is also necessary to attach to the contract an act of inventory of the property. This document describes in detail the condition of the apartment and the presence of furniture and appliances in it. If anything is damaged, the agreement and the act will be the basis for compensation for damages.

Do I have to pay taxes if I rent out my apartment?

If you want to have a legitimate additional income, then the apartment must be rented officially, which means paying the appropriate taxes. In this case, you will have to pay 18% personal income tax and 1.5% military fee. The contract and the payment of taxes are guarantees for the landlord. In the case of violation of the rules and conditions of the rental agreement by the tenant, the landlord will be able to prove his position in court.

The decision whether or not to pay taxes when renting out an apartment is up to the apartment owner. But it is important to understand that at any time the tax authorities may find out about the stable income without paying taxes, after which penalties will follow.

Why it is profitable to rent an apartment through an agency

Renting out a home by the owner requires energy, time, nerves and some legal knowledge to draw up an agreement. An alternative solution is to delegate this task to a real estate agency.

Why is it profitable to rent through a realtor:

• The specialist will correctly draw up a rental agreement and take into account even those nuances that the landlord did not think of;
• Realtors find it easier to find clients, since they have a database of clients, and tenants themselves also apply to the agency;
• You can discuss with the agent which tenants will suit you, and who you are categorically not ready to rent to - this will immediately "filter" customers;
• A realtor will negotiate with potential tenants and organize showings, and your phone will not be ringing off the hook;
• The specialist knows how to submit the apartment profitably to rent it at an attractive price for the owner and for a long period of time.

If you do not want to search for tenants, negotiate with them, and go to meetings with them, but you wish to get a stable and good additional income, consult a realtor. The real estate agency "Mayak" will help you to rent an apartment in Kiev quickly, profitably and without nerves.