This guide is dedicated to landlords. More specifically, to their typical mistakes. Anyone can make honest mistakes. The main thing, as you know, is not to persistently do this.
Please don't limit your categories. Yes, a family with children or pets usually means drawings on walls, scratched floors, and damaged upholstery of an expensive armchair. In this case, the wear and tear of the apartment will be difficult to predict. But let's calculate — how much money do you lose if the apartment stands idle?
Families with children and pets are interested in a long-term lease agreement. They can save you from looking for a new tenant for years. For them, a move is extremely troublesome and even risky. Children are often tethered first to nursery then to school. You can count on stable payments for up to 10 years.
How to avoid possible risks? Agree on larger deposits, take photos of all objects and surfaces in the apartment prior to leasing.
Trust me, social status and nationality do not guarantee payment on time and neatness, more often it is the opposite. Non-residents and young couples with children pay as well as anyone. Waiting for your "perfect customer" means losing money every month. Compromise. If you doubt them, request a tenant check. Our agency provides this service.
It is suspicious when someone offers a price significantly higher than the market price. Your apartment could be rented as a massage parlour or an illegal casino. It guarantees problems with law and neighbours. Later it will be difficult to rent an apartment with such a history to worthwhile tenants.
If you are going to come every month, it is primarily a demonstration of distrust. For tenants, your visits may be inconvenient. This may be the reason for moving out and you will have to look for new tenants.
Be considerate. You should not come to the apartment without warning and never without tenants present. Check the apartment once a quarter. Give three days notice of your visit. Make a visual inspection of the furniture and the condition of the apartment, do not look into the drawers or cupboards.
Negligence to the requests of the tenant is the other extreme. Don't forget, you are providing a chargeable service, be responsive and polite. If you want to keep conscientious tenants, promptly repair breakdowns, change outdated equipment, carry out cosmetic repairs if necessary.
Give the tenants your current phone number and a backup contact in case of an emergency if you are unavailable.
If you do not want to waste your time, use our Property Management service.
Personal evaluation, the agent's opinion, the rate of 5 years ago and other justifications for the price are worthless if the apartment is idle for a month without views. You are wasting time and incurring losses.
Adjust the price until the apartment is actively viewed. Be flexible, haggle, and be accommodating. Consider a discount on the condition of prepayment for six months. Money is more valuable today than it is tomorrow.
Do you remember the massive shower cabinets with hydro massage, lighting, sauna, and radio? They used to be expensive and were considered a symbol of luxury. But not today. A modern solution is a shower room built into the bathroom space. Thin glass, low tray, stylish configuration and a minimum of fuss with cleaning.
Massive drywall elements are also a thing of the past. The space should be as clean as possible (clutter-free). Bulky furniture build into walls is rarely needed. Functional hanging drawers and shelves are much better.
Photo-wallpaper scares tenants away, two-level ceilings with multi-coloured lighting visually reduce the room's space. A white ceiling, on the contrary, expands the space and looks advantageous.
It's a trap. The price is dictated by the market, not by the agency. Someone will name a price that flatters you, but never rents an apartment. The responsible agent protects the owner's side, makes an adequate evaluation, and rents the apartment quickly.
Now the supply exceeds the demand. Tenants monitor the market and know how to count money — this should be taken into account.
A common and even dangerous misconception. The apartment will not be rented faster. Here's what's really going on. The unified space of the real estate market gets a lot of versions of your apartment. Different descriptions, photos of different quality and different prices.
The exclusivity effect vanishes. The tenant gets a suspicion that you are in a panic and feverishly searching for tenants. It is clear that customers will choose the cheapest ad.
As experts, we must explain this logic to the owner. We appreciate the customers who come only to us and we make every effort to rent such an apartment. These are our earnings, and exclusive rights are an important advantage.
It is better to rent an apartment empty than with an old wardrobe and a kinescope TV. Tenants appreciate comfort and choose an apartment with a minimum of furniture, but furnished with taste. Unwillingness to get rid of old belongings reduces the cost of your apartment.
Some owners set unreasonably strict or absurd conditions for the use of the apartment. Not allowing to use some things, furniture, or rooms.
As a result, the tenants will move out as soon as possible. It's not profitable for you. If there are valuables in the apartment, just take them out.
Not a good idea. Firstly, there are too many offers in Moscow for tenants to decide to sacrifice their time and energy. Secondly, major repairs require control. Cheap materials, poor quality work and missed deadlines — may become a result of such a deal. Thirdly, the rental price will be extremely low.
Do you want to earn income now, but have no time and money for repairs? Rent the apartment as it is, at the appropriate market price.
You can prepare an apartment for rent with a minimum of costs. Do deep cleaning. Paint over or repair noticeable damage to walls or furniture. Check your appliances, plumbing, lighting, and other systems. Keep the indoor plants that do not remind people of the reception desk in a clinic: ferns, schlumberger, geraniums, violets. Books should look neat and fit into the interior. Take out the old frayed editions or hand them over to the library.
By refusing to work with a professional agent, you are being cheap for yourself. Time, nerves, and money are the main losses of independent landlords. It might seem not difficult. Bring in the tenant, show the apartment, and sign the lease agreement. Why pay for an agent?
Here's what's really going on. We run an ad about renting an apartment with professional photos and videos in the top placement of such sites as Cian, Realty.Yandex, Avito, and our website. Advertise it on Facebook, YouTube, and Instagram. We offer the apartment to corporate clients who do not work directly with the landlords: embassies and international companies. We insure the apartment and carry out cleaning after the tenant leaving. We run the service "Real Estate Management" for solving household and technical issues.
We guarantee free re-occupancy if the tenant moved out within the first 6 months. As a result, you quickly rent out your apartment at the best price, have guarantees and support from the agency.
In addition, the agency's lawyer accompanies the transaction at all stages. We will check the tenant and make an individual rental agreement, rather than copying a template from the Internet. A professional approach also includes an inventory of the property, taking into account individual requirements and all the nuances of your apartment.
Make sure you've got to the point of the signing contract responsibly. That you and the tenant know the rights and responsibilities. Talk and discuss all the details until you understand each other.
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