Have you ever rented a two-wheeler for some time? Would you make do with whatever option comes your way or would you look for the best two-wheeler in the best condition available? Just because you are renting it, doesn’t mean it should come with its set of shortcomings! Same is the case with your property as well.
Renting property is as important as buying the property. A basic and very important factor ignored is that “A PROPERTY VACANT FOR A MONTH IS LOSS IN ALMOST 10% OF THE YEARLY RENTALS.”
When your intention behind buying a property is generating rental income, your target should be minimum numberof vacant days in a year with rentals as per the market!
At Swastik Group, we are happy to share some quick rental tips that can help you save loads of money.
STAGING OF THE PROPERTY
When you are staging a play, don’t you spend enough time in thinking of the backdrop and how to make the set look? While the costumes of the actors are an important aspect, equally or more important is the backdrop and the setting. Similarly, while renting a property, you need to stage it – which means you need to de-clutter, rearrange, paint, and light it up well, with basic refurbishment. Studies say that staging a property enhances the chances of leasing it out by 90% with rental appreciation of up to 10%.
HIRE PROPERTY MANAGEMENT SERVICES
What do you do when your child is studying in another city from your city of residence? Don’t you look for a local guardian – someone who can look after your child and be just a call away at any given point in time? The same is the case with property as well. A property manager is someone who looks after your property in your absence. Along with administrative work, property management companies also look into rental management, quality of prospective tenants, proper documentation and ensure minimum vacant time for the property to be leased out. This is in addition to loads of other benefits. Property managers are like your call center helpline which is available round-the-clock for any kind of assistance
LOOK AROUND
There are 25% chances that you find the ideal tenant for your property within the society or from 3-4 neighboring societies around. So, keep posting your property availability in these groups on a regular basis.This should be your second option in case you cannot afford property management services. But looking at the long run, be judicious about investing in a property manager rather than wanting to do it all by yourself, especially when you have million other things to take care of.
At Swastik Group, we are ready to help you connect the dots with property management & we will help you rent out your property. We will ensure your property is in good hands!
