As a property owner, you should take care of every single issue related to the property, whether you are planning to allot it for renting or leasing purpose. Until and unless the property is only a vacant land, you need to think about the property and manage it with expertise.
The very first thing you should keep in your mind is that though the property is owned by you, still the property will be used for renting or leasing purpose. The amount of rent solely depends on how much beauty it carries.
The important factors on which an investor should concentrate are:
If you handover a damaged property to the new tenant, then every day you have to face their complaints against the property. When you are asking them to pay so much rent, then it is your responsibility to maintain the structure, clean the area, repair the leakages, mend the water pipes, and renovate the terrace.
They are paying for the product they are using. To serve their emergency needs, the investor should assist them with the emergency services or provide them the help line number for any such service.
Government has implemented various laws in the favor or against the landlords. Be aware of such small rules which you may require at any point of time.
As soon as the property is vacated, the investor should clean the premises and post the requirement for new tenant. Newspaper, website, banner are the best possible ways to reach clients.
Talk in details regarding the agreement, as well as rules and regulations. Maintain a record of all the rental history, rental documents, and other necessary paperwork. Unless and until your property is ready for move-in, do not promise any specific date.
Being a property manager and owner, you should know every detail regarding your owned property. You are the best person to sort out those issues and handover a perfect property to the client and maintain your reputation.