Landlord's Handbook
I have a property and want to rent it out step by step
1) Contact us
Let us know your interest in renting a property and set goals for us to achieve
OUR TIP: You can call, write or preferably come to our office in person.
2) Determining the scope of the collaboration
Each client has different wishes and ideas about the scope of cooperation. We offer a wide range of services from simple advice, to advertising a lease including advertising abroad, to finding a suitable tenant and arranging the entire transaction including providing contractual documentation. Let's discuss what specific things we can do for you.
OUR TIP: We are not opposed to any form of cooperation, we never insist on exclusivity.
3) Property Selection
Property sampling is a very important step. It is necessary to take from the owner the maximum amount of legal, economic and technical information about the subject of the lease. Likewise, professional photo and video documentation must be provided. Simply ensure complete preparation of all documents for advertising the property for rent.
OUR TIP: We always advise clients to prepare a working version of the property description in their own words, as they know their property best.
4) Advertising
Here the ball is in our court - we start advertising according to the agreed scope. Websites, social networks, specialized platforms, and most importantly our own client database - all of this is available to you from us.
OUR TIP: It is always advisable to place a banner on the property you wish to advertise, especially in a window, on a fence, etc.
5) Viewings
Conducting viewings of the advertised property is one of the most important stages of renting it. This is where we work differently to most of our colleagues, as our aim is always to do everything we can to ensure that the prospective buyer sees the property in person. We don't post pictures on the internet, but we do appeal to the prospective buyer's personal acquaintance with the advertised property.
OUR TIP: We are young and action-packed, so we do viewings even on weekends and public holidays - be prepared for that.
6) Booking a property
Preparing, agreeing and concluding the booking contract. The booking contract is usually concluded between the prospective tenant and our company.
OUR TIP: The booking period is always individual and depends on the specific circumstances and the agreement between the parties.
7) Preparation of the rental agreement
Once the booking contract is signed and the booking fee is paid, we move on to the drafting phase of the rental agreement. The contractual documentation is prepared for us by experienced attorneys. Our attorneys are always fully available to assist you in any contractual adjustments.
OUR TIP: We always incorporate your requirements for the lease of the property into the contract.
7) Handover and move-in
After signing the lease agreement, the property is handed over to the tenant for temporary use. Subsequently, the move-in takes place. When the property is handed over, a handover report is made, recording the status of the utility meters and the actual condition of the property and its equipment
OUR TIP: Carefully check the meter readings and the physical condition and appearance of the property and all property equipment. At the end of the lease there is a hand-back and it is at this point that most often there are misunderstandings with the owner about the condition of the property. Prevent problems - take notes, take photos, make videos.
7) Rent and deposit payments
Generally, rent is paid in cash to the landlord's account. Rent is payable in advance for each month or other agreed period. For example, for February, the rent is payable by 25 January. For March, the rent is due by 25 February, etc. In addition to the rent, deposits for services connected with the use of the apartment are also paid. The utility deposits must always be accounted for the following year.
OUR TIP: Rent and deposits are usually paid together in one lump sum.
8) Security Deposit
A security deposit (called a security deposit) is paid to the owner at the latest when the unit is handed over. This is an amount from which the owner can draw funds for his own benefit, e.g. in the event that the tenant fails to pay the rent. Similarly, the security deposit can be used to pay funds to compensate for damage or repairs to the property that the tenant would be liable for.
OUR TIP: I often encounter prospective tenants thinking that the security deposit is de facto payment for the last month of the contract - it is NOT. They are funds that are supposed to be used to cover the landlord's compensation. If the apartment is handed back to the landlord at the end of the lease with no defects - the security deposit is returned to the tenant.
9) Rewriting of contracts - HOA, electricity, gas etc.
Have you handed over the flat? Now just go through the round of utility suppliers and you're done. Don't forget to approach the management of the HOA to change the occupant records in the building.
OUR TIP: Never have a tenant pay utility deposits within the HOA directly from the tenant to the HOA account. Only you are the owner of the unit, and therefore the rights and obligations to the HOA apply to you and you alone. In particular, the cost of the repair fund is always borne by the landlord. Please bear this in mind when setting the rent. The repair fund cannot be recharged to the tenant.
10) Celebration
You're done, it's time to celebrate!
OUR TIP: We'll actually celebrate after the lease is up. Don't forget to visit the tenants in the property, make payment checks etc - you never know what might happen.