More and more people are looking for affordable rental properties to live in big cities, and finding a reliable tenant for your apartment in Sofia can be a real challenge. Our research shows that the main concerns that often deter homeowners from renting out their properties include the fear of property damage and unreliable tenants. Meanwhile, the biggest challenges for landlords stem from a lack of experience and information – from setting a realistic rental price to drafting a contract. Renting can be a great source of passive income, but finding the right tenant is key to avoiding unnecessary stress and expense.
Whether you are a first-time landlord or have experience, this guide will help you attract, vet, and secure a reliable tenant for your property.
1. Prepare your property
Before you start looking for tenants, make sure your property is in good condition and presentable. Make the necessary repairs, tidy up, clean, and add decorative touches to create a cozy, welcoming space. A well-maintained and well-presented property can attract the attention of more and more serious applicants.
2. Present your home with a quality listing
A clear and transparent presentation of the property in the ad is essential to avoid unnecessary waste of time, nerves and financial resources, both for property owners and property seekers. It is recommended to include key information in the ad such as:
- Accurate data about the home: Share clear and honest information such as the exact address, amenities and furniture included, rental price, detailed description of the property and its layout. This will attract serious applicants and reduce the risk of a large number of viewings from uninterested clients.
- Detailed and high-quality photos: high-quality photos and a video tour can significantly reduce the risk of potential tenants being misled by the information. Accordingly, you will be contacted by candidates who are already thoroughly familiar with the space and have a real interest.
- Requirements for the tenant: describe all the conditions that are important to you, such as no smoking, pet rules, deposit amount, to set expectations from the start.
A well-written, professional ad discourages frivolous candidates and optimally saves you time.
3. Check and meet the candidates
Once you have received inquiries, take the time to check whether the candidates meet your requirements. Use viewings with potential tenants to get to know them better. Ask questions about their reasons for renting, professional commitments and lifestyle. It is important to find out if they will fit into the environment and whether they will take care of your property. A personal meeting can give you valuable information about the attitude and reliability of the potential tenant. You can get useful information if you ask questions such as:
- Why are you moving?
- How long do you plan to stay?
- Do you have pets?
- Do you expect any changes to the space to be necessary (e.g. painting, changing light fixtures)?
Please note the following:
- Do they arrive on time for the scheduled inspection?
- Are they polite in their communication?
- Do they ask important questions about the property or the contract?
Careful tenant selection can save you a lot of headaches in the future, so keep one thing in mind if the candidate refuses to answer basic questions, pushes for urgent negotiations without the necessary documentation, or is rushed and uncommitted.
This process takes time and energy, which you can save if you trust a reliable partner. The service of flatimo provides the choice of conducting the viewings yourself or having us do it for you. You can benefit from the professional support of our team, which will assist you in positioning the property on the market, publishing and managing a quality listing in flatimo.bg and other established property sites in Bulgaria. Our experts have many years of experience and a sense of people, which can save you a lot of time and help you select the right tenants for your property.
4. Sign a clear contract
Signing a detailed contract is essential to prevent potential misunderstandings and conflicts in the future and to protect your interests. The contract should include all the terms of the lease – the amount of rent, the terms and method of payment, the obligations of both parties and the rules for terminating the contract. Specify all the details about the deposit, refund terms, utility costs and responsibilities for maintenance and repairs.
To make the process of concluding a rental agreement easier, you can use the free sample contract template prepared by a lawyer at flatimo – just fill out the contact form here and you will receive the finished contract within 24 hours.
Finding a reliable tenant takes time and effort, but following these steps will help you minimize the risks and ensure someone who respects your property and pays on time. With the right approach and attention to detail, you can find a tenant who will take care of your property and fulfill their obligations correctly.
If you are looking for an efficient way to find tenants quickly, easily and without a broker, fill out the form here and our team will contact you. We can help you with: recommendations on how to prepare your property for rental; filming and creating a quality ad; selecting verified candidates; preparing an (online) contract and assisting with legal issues. This way, you will rent out your property quickly and easily through a digitalized process and at the most favorable conditions on the market, so you can start earning additional income and focus on the things that are important to you.
