Rent an apartment and not go broke: what the landlord needs to consider
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Loading... - Vladimir Dernov
- 28 Apr 2023
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Renting out a home remains one of the most popular ways to generate passive income. How profitable this type of income is and what needs to be considered before renting an apartment, Moskovskaya Pravda found out from experts.
Egor Pugachev, Managing Partner of the Private Projects consulting group, gave some important advice for those who rent or are going to rent their housing.
1. Check out a potential tenant
At the preliminary stage of preparation for the transaction (especially if we are talking about a long-term lease), it is advisable to conduct some verification of your potential tenant, at least at a basic level.
So, using the open service of the Federal Bailiff Service of the Russian Federation, it makes sense to check if the tenant has debts that are in the process of execution, or other unexecuted court decisions.
In addition, you can view information about the existence of cases (both civil and administrative/criminal) involving your tenant on the websites of courts (district and magistrate judges), at least at the place of registration of the tenant. On the website of the courts in the section "Courtwork", a search is available by full name. Further, if there are cases, you can, depending on their content (at least the category, and at the maximum - the decision / verdict is visible on the site), draw the appropriate conclusions on the feasibility of concluding a contract.
2. Write down all the conditions in the contract
Think in advance what conditions and situations should be foreseen and described in the contract: how many people will live, with or without animals, the procedure and consequences of repairs, if necessary, the procedure for using the land (if we are talking about a private house), the frequency of visits owner and so on.
It is also important to fix in the contract that the tenant is obliged to monitor the condition of the residential premises and utilities on an ongoing basis and, in case of detection of any malfunctions / damage / threats of an accident, immediately inform the landlord. Read More…
