Renting Tips For First-Time Landlords

Does that ‘FOR SALE’ signboard outside your house look old and worn out after months of inactivity? May be it is time you started thinking about something different. One of the trending ways to get regular extra income is to rent out your house. While most of us think that letting out a house is a cakewalk, landlords who are actually trying to sell their properties would probably disagree. Misuses of the flat, low or no maintenance by the tenant, delay in rent payment are some common problems faced by landlords.

To avoid these hassles in future, one needs to do a little bit of homework before letting out a flat. Here are a few points you need to keep in mind:

Decide the Rent

The first step is to research about the renting trends in your area. Find out the rent of nearby let out homes and then calculate the rent per sq. ft. You can now apply the same to your flat to arrive at an approximate rent value of your house. The main elements to be considered for deciding the rent should be the capital value of the property, amenities offered and the locational benefits. Usually, the annual rent is 2-3% of the capital value of the property but this cannot be considered as a hard and fast rule. If your flat is in a housing society, it will be easier to decide the rent since all flats are more or less similar and so should be the renting criteria. However, if your flat is furnished or offers an exclusive view, you can charge a little more as premium.

Spread the Word

A traditional method to advertise your house is to hire a broker. In addition to bringing the tenant, he can also assist you in verification and other legal processes. But a broker usually charges half-month or a full-month’s rent as his commission. You can also post an advertisement in popular newspapers. And today if things have gone online, then so has the renting process. So if you are an internet savvy, you can advertise your home on the internet. There are a number of websites that provide relevant platforms with advanced listing, searching and sorting options.

Do Not Take That Rent Agreement Casually

Most of us are quite careless about the rent/lease agreement. But it is a crucial document and much care should be taken for its drafting. A rent agreement is document that mutually binds the landlord and tenant to comply to each others terms and conditions. Important information such as the rent and its categorization, date of rent payment, security deposit, rent period, facilities and amenities, etc., should be clearly mentioned in the agreement.

A rent/lease agreement can be used as evidence in the court only if it has been registered. Section 17 of the Registration Act says that every lease agreement for more than a period of 11 months needs to be legally registered. You may have to pay minimal amounts for registration along with the stamp duty.

Know Your Tenant

Will you ever give your house to a criminal or a drug dealer? A felonious person will not tell you about his illegal practices himself. So, knowing your tenant is not all about introduction. You also need to check his background. And you would be surprised to know that not checking the background of a tenant is a punishable offense under section 188 of the Indian Penal Code. Verification forms are available online. You just need to download it, fill the form and submit it at the police station of your area, along with your tenant’s ID proof.

These are some of the points you need to keep in mind before you finally rent out your flat/house. But your duty does not end here. You should visit the flat periodically to check if the tenant is violating any conditions, and if they are then proceed accordingly.

Arrange Furniture To Give A Quick Makeover To Your Home

Even the most beautiful of spaces can look utterly unimpressive if the furniture is not arranged correctly. If you are longing to give your home a fresh look, re-arranging your furniture is the easiest way to give your home decor a new look without a spending a bomb.

So, how do you know it’s time to rearrange? When you find less space to walk around your room, need to push aside chairs and tables or start facing trouble in locating everyday stuff in around the area, it’s time to get serious about a furniture makeover.

Consider flexibility of movement

Besides arrangement of furniture, consider the traffic flow and the flexibility of movement of people when they enter and navigate to other areas. For e.g., if your room has several entrances and exits, make sure people can easily get in and out without awkwardly having to push around furniture.

Assess the situation beforehand

Is it uncomfortable to open your drawer in front of guests or do you topple over furniture to get to your closets? Try to arrange furniture to avoid such discomfort.

Use platform beds that do not block the view

Is your bed partially blocking your window view? A bed that peeks over a window looks odd and blocks light. Make it look better with bottom-up shades which will act as a backdrop and allow light to come in. If you’re feeling ambitious, you can also go for a platform bed which is low enough to fit beneath the window trim. Also, to make it look chic and trendy, install an entire wall of colorful curtains as a fabric backdrop.

First furniture that you notice should be appealing

If a dull looking piece of furniture is the first thing you notice as you enter the room, replace it with something more catchy and welcoming. You may even go for reupholstering a worn out piece of furniture with some colorful fabric and give it an all together new look.

Replace Big Furniture with smaller versions

Big, over-sized furniture can be conveniently replaced by smaller substitutes that occupy less space and serve the same purpose. This makes the house look less cluttered and the smaller versions can fit in multiple places, thus allowing you to rearrange your room without any hassles.

Five Top Tips To Care For Your Art

Decorate walls with paintings is classy, exquisite and more than a little daunting. Here are five things to remember that makes caring for them a piece of cake.

Handling:

The key is to minimize contact with the painting – it keeps dirt and fingerprints away. Always remember to hold your paintings either from the outer edges or the bottom. If your piece of art is exceptionally large or heavy, feel free to call for extra help.

Hanging:

Appropriately sized, sturdy hardware must be used to hang the painting to ensure maximum stability. Be sure to keep the back of the painting from sticking to the wall – this will help reduce the possibility of damage through moisture in the walls and of dust accumulating. Ensure that none of the hardware is pressing into the canvas and that the tension of the canvas surface remains consistent.

Displaying:

While putting your art up for display, remember to pick a space that is away from any source of heat, has a relatively stable and reasonable level of humidity and is away from direct sunlight. Humidity can cause canvases to get fungal while heat and light can cause the paint to fade or dry and flake.

If you intend to light your painting, opt for low energy lights that tend to give off less heat. Also, do not place light directly above or beneath your canvas. It’s always better to choose lighting that does not emit any UV radiation.

Cleaning:

After ensuring that there is no loose or flaking paint, the painting should be dusted using a clean and soft artists’ natural hair brush with a tip between 3.5 and 5 cms. Position the painting on a clean padded surface, held upright and at a forward angle; this will ensure that the dust will fall away. Brush gently first in one direction and then the other. Never use a cloth, sponge or other material on the canvas and make sure that the cleaning materials are always dry or you risk compromising the texture of your painting!

Storage:

The best possible storage space for your art is a cool, dry one with good air circulation. Using packets of silicone gel if you suspect any amount of moisture or humidity is always a good idea. Keep your art wrapped in a material that allows breathing, like light muslin. Keep it away from heat and direct or harsh light. Also ensure that your storage area is not prone to attracting insects or rodents of any kind.