Letting correctly – the best way to go about it

Letting – Finding a new tenant should not really be a challenge. Certainly, at the current time, it is not difficult to avoid vacancies and rent out your property for a return. However, you should keep in mind that the margin for error is high and your responsibilities as a potential landlord are extensive. In order to let properly and focus on solvent prospective tenants, you should already rely on core competence during the pre-selection process. Letting through experienced estate agents takes the pressure off you and ensures that you can rely on the solvency of your future tenant and do not take any risks.

Outsourcing of all tasks for apartment or house renting

In order to rent, you have some time-consuming and costly tasks ahead of you. You have to present your property or the apartment from its best side, generate a detailed description and create interest through the illustration. Once you have created the exposé, it must be published in the most important real estate portals. Up to this point, you have already invested a lot of time and money in the planned rental. But after the advertisement, the work does not become less, because now you receive enquiries from interested parties and are faced with the challenge of arranging viewings and organising them.

Save time with a broker

If you are only renting on a “part-time” basis, timing your day-to-day life and renting will be difficult. Further, you should of course know “who” wants to move in with you and what their credit rating is. You can outsource all of these tasks and more in the tenant search process and hire a broker to do the time-consuming and experience-requiring work for you. Even though the buyer principle has applied to lettings since 2015, you get some benefits and can be confident that you will avoid mistakes in the process and that you will find a tenant suitable for your property.

Tasks before renting: Check creditworthiness

One of the most important tasks before every letting is to check the creditworthiness of the applicants. As an owner, you naturally want to be sure that there will be no rental defaults in the future and, as a result, no losses for you. If you hire a real estate agent, for example experts, you can rely on a professional check of the creditworthiness and a correct evaluation of the Schufa score of your applicants. Experts check the solvency of prospective tenants and make recommendations that are unobjectionable based on their creditworthiness and are the first choice for your rental. Learn more about Check creditworthiness.

Letting mistakes: audit, risk, facts

You want to find a new tenant promptly and keep the costs of your search as low as possible. Since the buyer principle has been introduced, some owners have decided not to use an estate agent. This doesn’t have to be a problem, but it can prove to be a high risk if you don’t have enough experience in letting. Before you rent out your apartment or a house, you should find out all the important facts about the applicant, his financial situation and his credit rating. Also, the first impression is a crucial indication that decides whether you will rent with advantage or pre-programmed trouble in the apartment building. All about the mistakes when renting.

Finding suitable tenants

The coherence of supply and demand means that you are guaranteed not to have to search long for a tenant. Especially if you rent out a property in a sought-after location, you will have a wide choice of applicants and will be able to make your own individual decision. However, we advise you to simplify your tenant search and find a suitable applicant for your property without a long search. More information about tenant search.

Tips for renting

Since the buyer principle has been in place for residential rentals, some owners are refraining from hiring an agent. However, even if you are paying for the service, you should consider the benefits and find out why an estate agent is the best solution. Find more tips on rentinghere

Draft a contract

You have decided on an applicant and are sure that you want to rent the apartment or house to the person you favour? Then you are faced with the challenge of drawing up a legally valid and error-free tenancy agreement. Even though the severability clause has long been part of every rental agreement, you should also avoid mistakes in the other points of the contract and make a legal challenge impossible. Learn more about the topic contract.