Every first-time Landlord feels that it is hard to know and understand the traditional renting process. Many landlords struggle to start and move further with their rental business in the absence of a proper guiding platform. Thus, there is always a possibility to make a mistake that can lead to financial losses and can ruin your first experience of renting. To save you from this chaos, we have gathered some essential info for those who are new to the renting business:
1. Keep records and stay organized
To calculate whether your rental property is yielding profits, you need to organize the property records. Without the exact information, you will not be able to know whether your property is giving you revenue or not. You should maintain all the documentation between you and renters. It can be easily achieved by using top property portals like RentScribe. RentScribe allows you to manage and access all the records and documents related to your rented properties on your cell phones
2. Follow the rental law in India
It is necessary to educate yourself with Indian Rental Law. So that you, as a landlord, you never violate the law. It is always recommended to take every step to follow legitimate ways of renting in India, from renter verification to rental agreement.
3. Renter’s screening
Screening a renter is vital, as every Landlord needs a renter who is genuine and can pay rent on time while taking good care of your property. Be sure that you implement the screening process for every renter. You can ask your potential renters to share background checks and credit reports with you. RentScribe offers the best tenant screening services for landlords. Through RentScribe, you can compare the reports with other potential renters. Its renter screening feature allows choosing renters of your choice.
4. Choose online rent agreement
There is no need to meet renters for signatures on rent agreement. It is always beneficial to do it digitally. RentScribe offers you the option to E-sign the rent agreement and saves it for future reference on your mobile phone. The document will always remain accessible to you through your RentScribe account.
5. Rent payment online
All the first-time landlords should follow the tips mentioned above to make their renting journey smooth. The easiest way to enjoy hassle–free renting is to register with RentScribe and utilize modern online techniques to advertise your rental properties with ease.
You can sign up at RentScribe. We are happy to offer you a special promotional offer of FREE* (*up to 3) property listings. If you find any difficulty in signing up or listing your rentals, our customer support can guide you. Let us know if you need any further help.
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