Landlords who decide to rent out their property often find it difficult to find a reliable tenant and manage the administrative formalities. Entrusting the management of your rental property to a real estate agent can be a very interesting solution to facilitate these tasks.
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The expertise of a real estate agent to manage your rental property
First and foremost, expertise in real estate matters is essential when looking for safe, reliable tenants. He or she knows the local market and is able to carry out in-depth research to ensure that proposed candidates meet all the necessary legal and financial requirements. A real estate agent can also help landlords meet the regulatory obligations associated with renting (standard contract, 2044 declaration, etc.).
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What are the owner's legal obligations when renting out a property?
Landlords must comply with certain legal obligations when renting out a property. The main legal obligations concern the condition of the property, tenant information, property insurance, the security deposit and compliance with decency regulations.
- Condition of the property: the owner is obliged to make the property suitable for rental and to maintain it regularly.
- Tenant information: landlords must inform tenants of their rights and obligations.
- Property insurance: the owner must take out insurance to cover the property and the risks associated with renting it out.
- Security deposit: landlords are required to ask their tenants for a security deposit.
- Compliance with decency rules: the owner must comply with decency rules when renting out the property (absence of noise pollution, quality of equipment, etc.).
- Do not terminate the lease without good reason.
- Do not increase rents unless provided for in the lease;
- Paying your property tax
- Inform the agency of any changes made to the property;
What are the tenant's legal obligations when renting a property?
The tenant is obliged to comply with the terms of his rental lease, namely :
- Pay rent and service charges on time and in full.
- Respect the purpose of the building and do not modify it without the owner's written consent.
- Maintain the property and keep it in good condition
- Use the goods in accordance with their usual purpose.
- Do not assign the lease without the owner's consent.
- Do not sublet the property.
- Respect safety and security obligations.
- Use property with care and diligence.
- Report any work that needs to be done to the owner.
- Do not disturb other tenants or neighbors.
- Insure your home against rental risks.
- Return the property to the same condition as when you moved in.
- What are the legal obligations when renting a property?
Legal obligations when renting a property also depend on the type of property and the type of rental contract.
What are the real estate agent's legal obligations when renting a property?
- The real estate agent must provide his client with complete and accurate information about the property to be rented.
- He must also provide a description of the property's condition and ensure that the lease complies with the law.
- He must also ensure that the lease is registered with the court and that the tenant receives a signed and dated copy.
- The real estate agent must also ensure that the tenant receives clear and comprehensive information on the obligations and rights associated with the tenancy.
- He must also ensure that the tenant has access to information on the security deposit and the payment of rent and other charges.
- Finally, the real estate agent must ensure that he or she respects the confidentiality of information provided by the tenant.
- Provide the tenant with an inventory of the property, including equipment and furniture (in the case of furnished rentals);
- Provide the tenant with a copy of the landlord's and building's insurance documents
- Inform the tenant of any changes to the property;
- Do not ask tenants for information or documents that are not necessary for the rental;
What's more, a real estate agent will take care of all the technical aspects of your property: visits with potential tenants and signing of contracts; spot checks on site; renovations, etc. He or she will therefore be your privileged intermediary between yourself, the lessor/tenant or even the condominium manager if need be.
Finally, thanks to the sophisticated IT tools used by this specialist professional (CRM/ERP), your documents (information on the asking price in relation to the local market) will be better organized to optimize the time you devote to your rental investment.
In short, entrusting the management of your rental property to a real estate agent gives owners peace of mind, because the agent's main mission is to ensure the proper administration of the property he or she has been appointed to manage. This explains why using the services of such a professional is essential to optimize your monthly profitability!
