How to Rent Out Your Place While You Travel
Would you like to travel and see the world? Are you unsure of what to do with your place while you are away? The best strategy is to simply rent it out while you are away. That way you have someone else paying your rent, while you get to experience new cultures and climates!
There are, however, a couple of things to consider before you rent out an apartment – read along for some sound advice on ‘How to Rent Out Your Place While You Travel’.
Further Reading: Travelling The World – Things To Consider Before You Go
Rent Out Your Place While You Travel Step 1 – How to do it?
The first question on most people’s mind when thinking about doing this is the question of how? How do you rent out your apartment (or house) to a ‘trustworthy’ individual while you are away? How do you even find this person?
Well, lucky for you there are a host of great platforms online that you can use for that exact purpose. These platforms are typically free of charge or exceptionally cheap to use and will help you connect with renters looking for a temporary place. Such platforms and sites will typically take a small part of the commission the renter is paying to get to live at your place. And the amounts are usually so small that you will barely notice.
Meanwhile, the platforms often have a form of vetting process where they check out the potential renters to make sure they are not scammers or simply thieves trying to take advantage of your situation. It works as a form of safety net so you always have a higher authority to go to for help in case you need it.
Further Reading: 3 Wonderful Ways To Find Connections When Travelling Alone
Rent Out Your Place While You Travel Step 2 – Choose your Renter Carefully
The platform of your choosing will thus help you along in finding a good renter that you can just. But this of course does not mean that you get to rest on your laurels. You also have to put in the work and make sure that the person living in your place while you are gone is someone, whose morals and standards you can rely on.
This includes being generally critical about who you give the key to before moving on to your great travels. Listen to your gut in this instance and make sure that you have a good feeling before leaving for the airport. Otherwise, a part of you will constantly be worrying while you are away, whether your place will be in good condition when you are gone.
Side note: If you are using a platform that connects landlords with tenants – asking a family member or friend you can rely on to check in on your rented home while you travel is a huge bonus. In fact depending on how long you plan on travelling it might be a necessity. If you are considering long-term travel then a rental management company you can trust (always get references) might be a more sustainable way to go.
Rent Out Your Place While You Travel Step 3 – Be Reasonable About the Price
Lastly, it is important to be reasonable about the price. It shouldn’t be too high – a good idea is to look at the price for other rentals in the neighborhood and base your price on those comparisons. If others in the area are able to rent out for much lower prices, then the renters will naturally choose to rent from them rather than you. Reasonable but competitive pricing is the best route.
Images by Nataliya Vaitkevich – CCO Licence
PIN: How to Rent Out Your Place While You Travel in 3 Steps