Getting the Most out of Your Rental Property

November 9, 2013

As people have become more mobile with each passing year, renting out properties has become a huge industry. Varieties of rental contracts and types of properties have become increasingly available and the demand seems to keep growing. Like any industry with a large profitable market, many people have taken to buying and managing their own rental properties. Types of rentals include students, business people, vacationers, and other extended-stay visitors. Each of these people have different needs. The most lucrative of these renters is, by far, the extended-stay business renter.

If you’re thinking of renting out your property, there are a few things you need to consider before you take the jump and risk wasting your time and money. You have to make sure that your property is up to the exacting standards of an upscale renter, and that it’s in a location your renters will want.  You also need to make sure the property is well-managed.


To attract the best renters to your property, you are going to have to have an attractive home or apartment available. This means that you may have to look into updating the floors in your Gurgaon property or putting new cabinets in the kitchen. If you wish to attract high dollar renters, people on extended-stay vacations, sabbaticals, and business trips, to name a few, you’re going to need to give them an air of luxury. High-dollar business renters are going to want extremely expansive kitchens and therapeutic showers. However, they are also going to be looking for interesting and regional styles.

Make sure that you pay as much attention to the outside of your rental as you do to the inside. This is especially true for American business people who are going to be taking pictures and experiencing another country. Even if you think some of the plants are very basic, if they are something native to your general area and are not common elsewhere you’d do well to put them in your gardens.


Attracting good clientele to your property is not always something you can do with appearances alone. While it’s true that very wealthy renters will go the extra mile for a property they adore, most renters want to stay in a central area. This is mostly for safety, but also because a central comfort zone is important to ground a person when they are living in a new country for a period of time. Properties that do the best with these renters have a high ?walking score?. That means they are located in an area where you can walk to most common services and establishments.


After you have your property ready to go, you must find a dependable manager. Property managers handle all the maintenance calls and take care of collecting your rent. A good property manager will have a relationship with your renters and be able to anticipate and meet their needs. Make sure that you carefully research whoever you put in charge of your properties to avoid running into any long-term problems.