Real estate investment is a tough decision, but with boundless advantages! One of them is gaining passive income when you list the property you put your money on for rent. Yet, finding the right platform to do this and reap the benefits of this financial move is hard.
In this blog, we will tell you how to settle between “rent vs sell”; it’s not an easy decision after all. And we well also provide you with essential tips for when you list your property for rent.
List Property for Rent
The Egyptian real estate industry has been in an evolutionary phase for some time now, making it one of the best investment options for those looking forward to fighting the high inflation rates.
But when it is time to take advantage of such a smart yet hard decision, there are two paths real estate investors could follow:
- Sell the unit for a profit
- List the property for rent & gain passive income
To make the right choice, there are various elements you need to think of before deciding what is best for you.
Selling vs Renting: What You Need to Consider
There is a broad range of factors you need to keep in mind whether you decide to list your property for rent or sell it, including:
- Market conditions
- Analyzing your finances and the ongoing expenses
- Maintenance and required repairs
- Taxes
- Renovations
Furthermore, the property’s location plays a major role in this decision. For instance, if the unit you want to rent out or sell is in one of the best residential areas in Egypt, such as New Cairo, El Sheikh Zayed, or October City, it would be currently more in demand.
But how can you determine which is the right decision for you? To rent your property or list it for reselling? We will tell you right away!
Some of the factors you need to consider before deciding your best option with the highest benefits include but are not limited to:
1. Comparing the Costs
The renting process includes many variable costs, such as maintenance, insurance, rates, taxes, and mortgage payments. On the other hand, the costs of selling your property include home renovations & improvements, real estate agent fees, and transferring legal ownership to the person you are selling to.
2. Liquidity
One of the most important factors you need to consider to know if selling your property or choosing to list it for rent instead is short-term liquidity. As mentioned above, both options would require financial evaluation, so you would need to ensure that there is enough cash to settle the commitments of both options.
You can check:
When you decide to list your unused property for rent, there are many unmatched advantages you would receive.
Perks of Choosing to List Your Property for Rent
Renting out your house would hold unparalleled benefits, for instance:
- You keep the property. You are only renting it for others to use and live in.
- The continuous passive income would help you pay your monthly expenses.
- You won’t go through as much paperwork when you sell your house. It is a much simpler and faster process.
- When you decide to list your property for rent instead of selling it, it won’t be your final decision! You can choose to resell it later.
- It is a good way to start your real estate investment journey. When you list your property for rent, you will gain continuous cash flow that you can use to build your investment portfolio.
Despite carrying many advantages, there are some downsides you have to be prepared for before deciding to list your house for rent.
Downsides of Renting Your House Out
You have to weigh both the pros and cons of such a decision, as when you choose to become a landlord and list your property for rent, you may experience:
- Some hassle with your tenants and complaints that you may not be able to fit into your schedule. Hiring a property management company to take care of these issues and solve their day-to-day housing problems would be beneficial!
- Unexpected expenses, in case you need to fix some issues in the property, such as leaky pipes.
After weighing both the advantages and disadvantages you may experience when you lease your property and deciding that it would be the right decision to list it for rent, there are some tips you would benefit from to gain the utmost benefits of this decision. We will tell you right away.
Tips for Renting out Your House
When you decide to list your property for rent, there are some tips you need to follow to ensure this decision runs smoothly.
- Being a landlord is a huge responsibility. You will need to take care of repairs, maintenance, and collecting rent. So you need to be sure you can handle it and fit it into your routine and life.
- You need to ensure your property is in good condition when you list it for rent, from its appliances to its cleanness.
- The marketing phase is crucial. You need to guarantee those who are looking for a house to rent that your property is an unmatched choice. You will have to list its appealing features and what makes it distinguished. Some of the important points you need to cover are its location, proximity to important destinations, the amenities accompanying it, and the advantages of living in this house.
- You have to check the right property platform or agency to list your house for rent. This will save you a lot of the hustle and bustle that accompanies such a decision!
If you are looking forward to unlocking the unlimited potential of your unused property, Nawy has got you covered.
Nawy Unlocked
Nawy Unlocked is your matchless gateway to turn the property you want to list for rent into an elegant living space. The impeccable services it offers include:
- Finishing and Furnishing
If your property is semi-finished or a shell unit, and you are looking forward to transforming it into a one-of-a-kind house so you can list it for rent, Nawy Unlocked will bring it and revamp it into a ready-to-rent unit.
- Rental Managament
As mentioned above, one of the biggest drawbacks of choosing to list your property for rent is the constant hassle. This service handles it all, from searching for the next tenant to lease management.
- Unmatched Execution
Nawy guarantees that your property will be ready to be rented with the best materials, as it works with trusted contractors.
- Financial Assistance
Nawy will cover up to 50% of the finishing finances. These costs will be recovered gradually from the rental.
In addition to these unmatched services, Nawy Unlocked is available in a wide range of luxurious compounds in both the east and west of Cairo, such as:
Furthermore, if you are looking for a property for rent in New Cairo, or a unit available for resale in any of the elite compounds in Egypt, such as Hyde Park, New Giza, or Palm Hills October, you should check the list of homes available on Nawy, the largest prop-tech in Africa.
Whether you are searching for the right place to unlock the boundless potential of your unused property, list it for rent, resell it, or find your next investment, we have got you covered.
Contact Nawy’s expert consultants via WhatsApp and they will answer all your inquiries.
