Having a flat to rent out is certainly a good opportunity, but it often seems easier than it is.

In order to do it correctly (and unquestionably), you need to take certain steps and handle it in a certain way. Our rental expert, Gallery, explains how this works and briefly tells us what needs to be done.

 STEP 1: preliminary checks

– Checking the type of contract

– Calculation of agreed rent for subsidised contract (if residential)

Having passed this first block of checks, we move on to a non-trivial step: the search for possible tenants.

PHASE 2: property promotion, visits

– Advertising the flat (photos, description, on and off line promotion)

– Management of visits (wide availability of hours for both telephone contacts for enquiries and appointments, and for visits to the property)

– Potential tenant checkup (verification of income/employment status, examination of any protests)

And now to the contract.

STEP 3: Contract

– Drafting the contract

– Completion of registration forms and telematic registration of the contract with sending receipts

– Filling out and sending the registration request to the P.E. Association.

With this also settled, you can finally proceed with handing over the keys and the flat to the new tenant. It is advisable, for the protection of both parties, to take archive photos, especially in the case of rentals with furniture and accessories.

– Handing over the apartment

Well, now that the flat is handed over, can we only think about cashing in? Unfortunately not, or at least not only.

STEP 4: Rent management

– Collecting the monthly rent

– Payment of condominium expenses and sharing with tenant

– Documentation for tax return

 STEP 5: Contractual and post-contractual fulfilments

– Post-contractual fulfilments (extensions, successive terminations)

– Redelivery of accommodation at the end of the contract

That’s it, we have reached the end! But one more consideration must be made: some of these steps refer to regulations in force, now as we write, but are subject to possible change. Not to mention that, as we know, new regulations can appear at any time, so one must always be up-to-date in order not to be in breach of contract in any way.

So let us return to the dilemma: agency yes or agency no? Deciding to turn to an agency, as we at Gallery might be, for the entire management does indeed have a cost (in fact we almost always speak of a commission on the fee), albeit justified, but the ‘pros’ are different because it frees the owner from risks, bureaucracy, as well as representing a considerable saving of time.

Laura Collini
Lettings manager

Glenda Heidebrunn
Marketing and communication

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