Quest Greek Islands

Choosing to Rent Out Your Property

For anyone who is thinking of selling their home in Greece to move back home, you may have noticed that now is not a good time to sell property. Due to the financial crisis that has hit many countries worldwide, this has had a domino effect which has affected the property market in Greece and many other countries. If you find that you are desperate to leave Greece and are not happy at the idea of leaving your property free, then you could consider renting it out. Renting is becoming very popular worldwide and is an excellent idea, as you will

earn a regular income and your property will not be left empty.

Name the Price
When deciding on a price it is best to look around at other rentals and make sure that the price that you are asking for is appealing to possible tenants. Think about a price that both you and the tenant will be happy with and start there. If you find that after a long time, you still have very few people interested in your property you may then lower the price and see what happens after that.

A key point to remember, is that if you pitch your asking price to high to begin with you may lower it after time however, if you underprice your property and then decide that the price should be higher, it isn't such a good idea to higher the original price.

Although you may not be satisfied with renting out your beloved home at a cheap cost, you may benefit in the long run because if you happen to find tenants quickly, especially long-term tenants, you will save money on advertising fees! Sometimes it is better to settle for a lower price that to continue paying out for expensive advertisements and maintenance.

Advantages of Renting
Renting gives you the freedom to own a property and earn of it at the same time. You, as the owner, will still have the power over the propety and it's tenant, but you will also have someone there to mind you property. If you are planning on leaving the area or leaving Greece completely, then renting out your property instead of leaving it empty gives you peace of mind and a healthy income.

Many property owners do not like the idea of leaving their properties empty and uninhabited because of the risk of theft, damage caused by weather and other problems that require the owner to pay out on maintenance and repairs. Renting has always been a profitable market and remains so today.

Furnished or Unfurnished?
Make it clear to both the estate agent and the tenants of what you plan to leave in the property and what will not be there if they were to move in. Although the price of a rental property seems much more appealing to the client if it is already furnished, the owner may not feel happy about leaving their possessions with strangers.

On the other hand, not everyone is looking for a furnished property, as the clients may wish to move in with their own belongings, if so you must ensure that you have cleared your belongings out before they move in. Bare in mind, that if you do leave your property furnished, you risk damage to it, so do bare this in mind before you decide on whether to leave your belongings or not. If you decide to leave the property unfurnished, make sure that this is reflected in the price.