Do you own a second home but have always had qualms about renting it out?
Do you fear that a new tenant might cause damage to your property or turn out to be a bad payer? Or again, if the house in question is an apartment, do you fear that the new tenant might be a nuisance to the other tenants?
What if the tenant stops paying ? If he breaks the bathroom faucets ? If he systematically parks in front of Mario's garage ?
Or maybe you are concerned about the costs from rental income?
Effectively renting a property some risks as well as some commitments to be made exist, yet the benefits you may reap are unquestionably attractive.
Therefore, in this article we will explain why it is better to give your house for rent than to leave it vacant.
First of all, know that there are several steps you can take to prevent most of the issues that can arise from the conduct of the tenant or from his or her possible defaults.
Usually at the time of finalizing a lease, the tenant delivers to the landlord an amount as a security deposit which should be returned by the landlord at the end of the relationship unless there is evidence of tenant arrears or damage to the property or furnishings belonging to the landlord. Admittedly, the amount left on deposit may be insufficient to cover any delinquencies, but it is already an important first help. Another advisable protection is to ask the new tenant for the taking out a policy for rental risks, this is certainly an excellent parachute in case of damage caused by the same to the property or its contents, and usually the presence of the said policy helps to resolve the tensions that evidently can be created between owner and tenant in case of breakage or failure of both structural and technical parts that make up the house.
In addition to this, it is good to take the necessary precautions in order to ascertain the economic soundness of the incoming tenant. Observe the income records of those interested in renting your home can guarantee that you are dealing with an individual who is in a material position to meet the costs he or she will incur. Structured and organized real estate agencies have tools that can determine the applicant's financial situation. For example, our real estate agency provides the "check client" service, as you can see by clicking on this link (https://marcocatelli.it/servizi-immobiliari/check-cliente/), which is aimed precisely at making a sketch of the potential tenant.
Highlight from the outset what the rules of a possible condominium, even before they put their signatures on the contract, will immediately put the new tenant in a position to understand whether the place where they are going to live is right for them. Sometimes some unpleasant situations intervene because of a lack of initial clarity.
Certainly a cognitive interview with him can be helpful. Human factors are very important and can help you on the one hand to understand who you will be dealing with, and on the other hand to begin to establish a relationship of mutual trust and cooperation that will facilitate the management of any problems that may arise later. The relationship between landlord and tenant does not necessarily have to prove confrontational.
Let us now disanimate the expenses that a landlord has to bear. Whether there is a tenant or not, there are several taxes on his or her shoulders such as IMU, TARI and TASI. In addition to these are the maintenance expenses between ordinary and extraordinary in addition to any condominium expenses. Evidently, if the house is used by a tenant, the tenant would be responsible for condominium and routine expenses in addition to garbage tax (TARI), while the landlord would have to pay the taxes derived from the income that comes from the rent in addition to IMU, which, however, if the property is rented out can have large reductions.
These fees may vary based on the type of lease that is entered into.
And here we get into another issue that can affect landlord choices since there are different types of leases.
Some types of contracts indicated for the short-term rental including for tourist purposes, while others are for transient or student purposes. Said contracts generally generate more income but for shorter periods and with less continuity although in some cases entailing higher IRPEF rates. A positive aspect in choosing a transient lease is having the possibility of disposing of the property cyclically and therefore being able to decide, for example, to give it to a child, alienate it or have the opportunity to perform periodic maintenance to keep it in excellent condition.
Other types of rental contracts, on the other hand, are suitable for families or people who intend to settle down for long periods. The income will perhaps be a little less sometimes but will be stable over time, in these cases it is often appropriate to choose to enter into contracts with an agreed rent from which follows a lower fiscal impact.
We will delve into the topic of rent types in a future article.
Renting out a house certainly has the advantage of not leaving the property to neglect since a tenant will have an interest in keeping it tidy and well-functioning, but evidently the main advantage is the gain to the owner.
The quantification of income depends on several variables, such as the geographical location of the house, the square footage, the services in the area, and those enjoyed by the house itself. A real estate agency can perform a home appraisal on the rental housing market.
If you would like to get information about this and make an assessment, you can do so by relying on our experience and expertise.
Call us at 0583.997201 or write to us by filling out the form below. We will contact you as soon as possible.
