Things You Should Do Before Letting Out a House for Rent in Nepal
Renting out a house in Nepal is an excellent investment; we don’t have to repeat it. If you can lay your house on rent in Kathmandu valley or other major cities of Nepal such as Pokhara or Biratnagar/ Butwal, you will make a good fortune, many times enough to feed a family. The same goes for letting out flat for rent or rooms, and even a single cheap room for rent in Kathmandu costs good money.
All in all, letting out a house for rent in Nepal is a sure-shot way to make one of the best passive income. However, there are certain things that you will need to do before giving your house on rent, and we discuss that.
See Also: Mistakes to Avoid While You Rent an Apartment in Nepal
Buying vs Renting Home- What is the Difference?
First, Ensure that you Have Enough Room for Yourself
It applies to renting out flat(s) or room(s). Sometimes, there come people willing to give you so much money that you decrease the area for yourself to give them space. This is not a good idea, as sacrificing your own comfort is never the point of having a house.
Do a Little Research on Your Tenants
You don’t need to hire a private investigator; just ensure that they can pay you the rent. At the same time, look if they are well-behaved and calm. Don’t forget that you are not only giving out lease but trusting those people with your property.
Never lie about the facilities. If there is a shortage of water, let them know. Also, talk about the payments, and become frank about the things you expect from them. If one person doesn’t like your property, then there are hundreds of others who will be interested in it.
Make Some Ground Rules
This is an essential thing to do before letting out a house, apartment, room or flat for rent in Nepal. You will need to make some rules for the tenants to live in your house. Ensure that they can’t disturb, or damage any property. But also try to become as flexible as possible, make sure that your tenants can live comfortably in your house.
Decide Beforehand How Much Time You Are Going to Rent Out Your House
You will need to have a plan about how much time you are willing to rent out the house or flat. This way, you can strategize your own life, and at the same time, your tenants can get enough time to search for another shelter.
Sign a Contract
Signing a contract is not a widespread practice in Nepali society, but it is essential. This way, you will have a formal agreement through which your tenants can’t do damage, and at the same time, renting out becomes more secure and systematic. Also, talk about money in the contract, about the present cost and potential cost once price starts hiking.
Well, these were some tips to help you while letting out a house for rent in Nepal. You can contact us if you are willing to list your property in our for rent section. We are one of the most trusted rental solution in Nepal and you can expect thousands of people to go through your property once you list it on our website.