Renting out your property in Mauritius can be an excellent way to generate additional income. However, in order for this to happen in the best possible conditions, it is important to follow the right steps. Here are some tips:
Property valuation
Before you rent out your property, it is important to estimate its value. This will give you an idea of how much rent you can expect to receive in terms of rental revenue, and will help you to determine a the right amount in a considered manner.
Enhancement of your property
Ensure that your property is suitable for renting and up to standard to welcome future tenants. This includes taking care of any repairs or improvements (painting, roofing, water seepage, electrical wiring, decoration) and making the necessary adjustments to rent it out or to differentiate it from other properties on the market.
Your property’s assets
Prepare a detailed list of your property’s features and assets, together with a comprehensive selection of quality photos; this will help you to promote it more efficiently when advertising in your property ad.
Detailed inventory of your property
If you wish to rent your property furnished or semi-furnished, make a detailed list of all your personal effects (furniture, dishes, bedding, appliances, etc.). This will be useful at the end of the rental agreement when the inventory of fixtures is drawn up.
Finding tenants
Use online platforms to find potential tenants, such as real estate websites or groups on social networks. You can also use a trusted real estate agency to help you with this process.
Background checks
Make sure you do a background check on potential tenants before you accept them. You never know who you’re dealing with, and you can never be too careful!
The tenancy agreement
Make sure you draw up a proper, clear and detailed tenancy agreement that sets out the terms and conditions of the tenancy. This includes the rent, payment terms and cancellation conditions.
Annual inspection:
It is important to carry out an annual inspection of your property to ensure that it is in good condition and to detect any problems.
By following these steps, you will be able to make the right decisions when renting your property. In addition, in order to avoid any unpleasant surprises, keep yourself informed of the laws and regulations in force regarding property rentals in Mauritius.
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