If you are interested in buying a house in Italy, it would be wise to know how you can transform the property into a profit making venture by renting it out to reliable and trustworthy tenants. Here are a few points of interest to consider when you want to make a profit from your Italian rental property.
Photo from tango-
1. According to the law, the property must first meet certain legal requirements before it can be rented. For instance, one of the recent requirements is the possession of an energy certification (ACE) for all rental properties. The certification establishes the required kilowatt/hour needed to maintain the premises at 18 degrees in winter and summer.
2. You naturally need a good tenant who will pay on time and maintain the house in good order. To achieve this it is advised to interview the tenant on important issues such as professional stability, their specific profiles such as couple with kids, students, or pet keepers, and rental insurance. Always ask for a deposit and do not accept a tenant without a signed contract.
3. Preparing your house for rent is important since first impressions really matter. It is essential to ensure that the apartment or house meets all the hygienic standards such as clean floors, shiny knobs and faucets, and clean hygienic tanks.
4. You can then promote your property advertisement through printed press such as classified ads or online in different property listings. Ensure that your advertisement gives a clear description of the property, complete with photos emphasizing the major strengths of the property.
5. There are different types of rental or lease contracts. For instance, a free contract allows the parties to freely determine the annual fee. Its duration is at least 4 years after which it can be renewed for another 4 years.
An agreed contract is usually set for a minimum of 3 years and complies with terms and conditions of the law. For example, if you unlawfully evict the tenant, he or she has the right to recover damages equal to no less than six months rent.
A short-term lease contract has a duration limit of not less than one month and not more than 18 months. There are also contracts for college students in towns with universities and colleges. These contracts have a time limit of not less than six months and not more than thirty six months with an option for automatic renewal. Lease contracts for tourists provide a great freedom of adjustment depending on the diverse needs of the parties involved. The duration and fees are freely determined by the parties.
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