TallinnHome has prepared a basic guide for those landlords considering renting out their property. It can be quite a stressful time to begin with as having strangers living in your property is at first quite a strange concept.

When renting out your property, make sure that you have taken all necessary steps in order to get the maximum rental income from the property. This means that furnishings should be applied, decorating should be completed, garden maintained etc. It is often surprising how much the rental price will be affected by the smallest of negligence.

We have put together a brief chec-kist of things to consider when renting out your property:

• Make sure the property has durable furnishings and fittings. They do need not be expensive, just strong and durable;
• Avoid light colour textiles on sofas and curtains as stains and dirty marks show up more on lighter colour fabrics;
• Furnish the apartment with all the necessary household goods and equipment for comfortable modern living;
• Make sure you have a small fund ready to cover any replacement or repair works such as plumbing, electric work etc.;
• Keep the property colour scheme as neutral as possible. Avoid extravagance!;
• Parking is preferable when renting properties. If there is no allocated parking, try to secure some near to the property;
• If you choose to allow pets in the property, it is wise to ask that only small pets can be accepted and the tenant signs a separate “pet agreement";
• Smoking tends to deteriorate a property. If you wish to allow smoking in your property, which is not preferable, make sure it is only permitted in a designated outdoor areas, such as a balcony or patio;.
• Be sure to ask how many people will be living in the property when a tenant takes it. If necessary, make an agreement which does not allow any other people to live in the property other than those described in the agreement;
• Make sure you or your managing agent frequently checks that the tenant is not falling behind on utility bills;
• Be prepared to reduce or increase rental in line with the market;
• It is always wiser to lower rent rather than have the apartment vacant;
• When you have a good tenant, try to keep them as long as possible, but do not be a pushover;
• Try to furnish the property in the manner you would like to have it rented at the very start, rather than buying various items for each tenant;
• Make sure all prospective tenants are checked out and do not have any negative financial, criminal or rental history.