Solutions for successful rental management

16 00:00:00-01-2023 Updated on 16 00:00:00-01-2023

Doing rental management is not improvised. To avoid unpleasant surprises, we give you some solutions to succeed in your rental management.

Rental management includes both what happens before, during and after the rental of a property. This corresponds to operations such as posting the ad for the property, visits, drafting the lease and inventory, managing current problems… these are therefore time-consuming tasks that must be anticipated and not neglected.

Setting the rent price correctly

First of all, before putting a property on the market, you have to give it a rent. This rent can be freely set by the lessor. However, certain rules must be respected at the risk of making a bad investment. Indeed, if the rent set is too low compared to market prices, the investment will not be profitable. Of course, the property will be regularly rented but you will not get your money back. On the contrary, a rent that is too high will scare away tenants. Again, you risk losing money since your property will have more difficulty renting. The solution is to carefully study market prices. In addition, if you are in a tense area - in other words, an area where there are more requests than housing - you must respect rent control<\/a>. You therefore do not have the right to exceed a certain ceiling. On the other hand, if you are putting your property up for rent for the first time, the rent control rule does not apply.

Take care of your ad

Putting an ad for a property for rent may seem simple but still requires preparation. Your ad must be attractive and must generate visits. What is a good ad? It is an ad that contains well-framed photos, where you can correctly see all the rooms and taken with good light. The property must be highlighted but be careful, the photos must not be misleading. In the description of the property, try to be as precise as possible. Indicate the price of the rent as well as the amount of charges, shops and public transport nearby, the equipment available. Give the information to contact you and post the ad on frequented sites that correspond to your target (students, young workers, families, etc.). There are so many ads on the market that it is essential to stand out.

Finding the ideal candidate

Once the ad is posted, it is a question of organizing visits and finding your future tenant. For this, it is necessary to check the solvency of the candidates. It is customary to request income 3 times higher than the amount of rent and\/or a guarantor depending on the professional situation of the candidate. To verify this information, you can request the last 3 payslips, the last tax assessment or a scholarship award notice for scholarship students. You can also request a copy of the employment contract or the Kbis extract for entrepreneurs. On the other hand, be careful, it is forbidden to demand certain documents. The health insurance card, the Rib, the copy of the account statement or the medical file are part of it.

Take out unpaid rent insurance

Unpaid rent is the bane of landlords. While it's not that frequent, it's a risk to consider. To protect yourself, don't hesitate to take out unpaid rent insurance, which will allow you to be compensated quickly in the event of non-payment. Don't forget that amicable solutions can also be found. As soon as you notice a delay in rent payment, contact your tenant and try to understand the problem. Perhaps all it takes is giving them a payment deadline for the situation to be resolved. If the problem is not resolved, take legal action.

Listening to your tenant

Tenants often complain that they can't communicate easily with their landlord. To successfully manage your rental property, it's important to be available and reachable when your tenant contacts you. You can also ask them regularly if they are satisfied with your services to understand which points you need to improve. Make their experience in your accommodation the best possible, because the more satisfied tenants are, the less likely you are to experience rental vacancies.

Using rental management software

If you're short on time, you can call on a professional manager such as rental management software. By using software, you can automate all your most time-consuming tasks and gather your documents in one place. You avoid accumulating paperwork and can free up time to be more attentive to your tenants. Lease, inventory, rent receipts... all these papers can be edited in just a few clicks. You can also track the progress of maintenance in real time when a problem occurs in the residence and communicate with all stakeholders via instant messaging.