Renting out a property can be a great option to generate additional income, especially in the current context where the rental market is constantly growing. However, it is normal for many landlords to feel doubts and fears, especially if it is their first experience as a landlord. These concerns are understandable, but, with the right preparation, they can be significantly mitigated. Below, we explore the main concerns that landlords face when renting and how to deal with them.
1. Non-payment of rent
He non-payment of rent The problem of renting a property is at the top of the list of concerns for most landlords. This fear is not only based on financial loss, but also on the long and complicated legal procedures required to recover the property or receive the rent owed. According to recent data, 20% of landlords have faced some case of late payment in recent years.
To minimize this risk, it is essential to:
- Make a rigorous selection of tenants, verifying your financial history and personal references.
- Opt for a default insurance to cover losses in the event that the tenant stops paying.
- Formalize a contract that complies with all legal regulations and that contemplates Specific clauses for cases of late payment.
In addition, many real estate agencies, such as Serra Real Estate Group, offer rental management services that include tenant screening and rent payment tracking.
2. Damage to the property
Another common concern is that the tenant causes property damage during their stay. This risk can be mitigated by:
- The creation of a detailed inventory including photographs of the furniture and appliances present in the home.
- Hiring a building insurance covering possible structural damage.
- Include in the contract the tenant's obligation to hire a contents insurance to protect your property and cover accidental damage.
Additionally, maintaining open communication with your tenant can prevent conflicts and resolve minor issues before they become serious.
3. Subletting to third parties without consent
He unauthorized sublease This is a common problem. Some tenants take advantage of the property to rent rooms or even the entire property to third parties, which can lead to legal conflicts and problems with the community of neighbours.
To avoid this:
- Establish a clause in the contract which explicitly prohibits unauthorized subletting.
- Conduct periodic inspections (with prior notification) to ensure that the property is being used as agreed.
The Urban Leasing Law establishes that any subletting activity without the consent of the owner is grounds for terminating the contract. See more details in the LAU.
4. Misuse of housing as a business
Another recurring problem is the use of property as a commercial premises or business space without the owner's consent. This type of breach of contract can lead to legal sanctions and conflicts with the community of neighbours.
To avoid this situation:
- Include in the contract a detailed description of the permitted use of the home.
- Keep a Constant communication with the community of neighbors, who can alert you to unauthorized activities on your property.
5. Occupation of more people than allowed
Although the contract specifies the number of people who will occupy the home, in some cases, the tenant allows more people to live there than agreed upon, which can cause problems. overcrowdingThis not only creates greater wear and tear on the property, but can also be a cause of complaints from the community.
To prevent it:
- Establishes clear sanctions in the contract due to overcrowding.
- Regularly check that the agreed conditions are maintained.
Benefits of renting safely
Despite these fears, renting a home can be an excellent source of income and a way to Keep your assets activeToday's tools and services enable property owners to effectively manage risk:
- Real estate agencies, such as Serra Real Estate Group, offer personalized advice for owners, helping with tenant selection, contract drafting and comprehensive rental management.
- The non-payment and damage insurance are key tools to protect both your finances and your property.
- Digital advances make it possible to manage contracts and payments in a secure, fast and convenient manner.
If you are considering renting your property, we invite you to explore our offices in Vilanova i la Geltrú, Sitges either Cubelles, where you will find a team of experts ready to help you every step of the way.
Renting out your property doesn't have to be stressful. With the right preparation, you can make it a profitable and satisfying experience, while helping to meet the growing demand for rental housing.
