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5 Easy Steps to Rent Your Home in India
Updated : May 9, 2024
Author :
Table of Contents
There are plenty of reasons why people want to rent out their homes, the biggest being that it’s a great additional source of income. If this is your first time renting out a home, use these tips to have a trouble-free experience renting out your property.
1. Evaluate the condition of your home
If your home has been emptying for a while, you may need to look at what needs to be done to make it liveable again. Paint it, get it professionally cleaned, and make sure the plumbing and electricity work properly. If you're providing a fully furnished or semi-furnished house, you also need to see that the furniture is good. You can improve the condition of your house by choosing NoBroker Homer services.
2. Calculate your costs
It’s important to fix the right asking price for your home, you need to consider factors such as –
• Size of your home
• Age of your home
• Condition of the house
• The fair market rent of your locality
• How much it would cost to keep the house in working order once tenants move in
• Cost of expensive problems that might occur
• What savings you will need to survive if there is no rent coming in
Quality Service Guarantee Or Painting Free
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Find the BEST deals and get unbelievable DISCOUNTS directly from builders!
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3.Get a rental agreement made
The rental agreement is a legally binding document that gives the tenant the right to reside in your home and gives you the right to collect rent. It will also specify the other conditions of rent. Few things that you need to include in your agreement are –
• Full names of the tenants
• The correct address of your rental home
• The length of the rental period
• The amount of rent payable by the tenant
• The security deposit amount
• Late penalty amount and conditions
• Rules of behaviour for your home and that of the society
• Who is responsible for repairs and what types of repairs you’ll undertake
• Eviction terms
Apart from this, there is plenty more that you can add, or just let the experts at NoBroker manage your Rental Agreement for you.
4. Listing your property
You can do this the old-fashioned way by word of mouth, brokers, or place an ad in the paper OR you could do it the smarter way – post your property on NoBroker.in. It’s a simple process that only takes a few minutes. This listing is FREE, fast and allows you to decide what type of tenants contact you. You could also let our Relationship managers schedule calls and visits for you so that you can focus on other aspects of your life while we manage your rental process.
5. Finding the right tenant
Interview your potential tenants and analyze if they meet your criteria. See to it that your tenants are the kind of people that you would like to have in your home. You also need to check if they are ready to accept your rental terms and conditions and if they will be able to pay you the rent without hassle. Once you decide on the right tenant and the rental agreement is signed, you have nothing left to worry about.
NoBroker is here to make renting your home easy and convenient if you have any questions about the rental process feel free to contact us on 924-170-0000 or write to us at hello@nobroker.in. To Rent or Sell Your property click below.
FAQ's
Ans. If you have additional space in your home or a different property for accommodating a tenant,the biggest reason for putting it on rent is the additional source of income.
Ans. If your home has been vacant for a while, you may need to look at what needs to be done to make it liveable again for your tenant.
Ans. You need to consider factors such as the size of your home, its age, its condition, the fair market rent of your locality, how much it would cost to keep the house in working order once tenants move in, the cost of expensive problems that might occur, as well as the kind of savings you will need to survive if there is no rent coming in.
Ans. The rental agreement is a legally binding document that gives the tenant the right to reside in your home and gives you the right to collect rent. It will also specify the other conditions of rent.
Ans. A few things that you need to include in your agreement are –
Full names of the tenants
The correct address of your rental home
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Author
We’d love to hear your thoughts
Sur
how do you ensure that a person is able to pay the rent? How do i protect my home from renter taking over the property?
NoBroker Technologies
Hi Sur, We understand that giving your house on rent can be scary, especially when you hear stories of people refusing to leave the rented house. This is exactly why a good, clear and effective Rental Agreement is needed. If a tenant goes against the legal rental agreement you can hold them completely accountable and can safeguard your property. The NoBroker team can help you with your Rental Agreement, don't hesitate to call us. Thanks, NoBroker Team
Indrani Chakraverty
Hey I have a villa near the airport I want to rent out I live in Chennai Would b good if someone can get in touch with me It’s 2 bhindi with terrace in a nice gated community
S.thirupuram
We want our house to publish in no broker app for lease
NoBroker.com
Hi Sekar! We'd be happy to help you list your home on NoBroker, can you share your phone number with us so we can reach you for more details? Or you can give us a missed call on 9241700000 Cheers! Team NoBroker
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Suresh Rangarajan
Thanks for the brief overview on it...It's been nice to read your article here...