It doesn't matter in what kind of situation you are – you might be under a lease, or you might own an apartment. Whatever the case may be, you've probably wondered whether or not you can rent out the place when you go for a vacation or when you travel for an extended period.
You must have at least thought about it, as renting out while you're away is a great way to get some passive income when you're not actively earning.
If you have, then you are now in the right place. In today's article, we'll answer this question and give you the information you need to know before you decide to rent out your apartment.
Why Renting While Traveling Is Useful
First of all, yes, you absolutely can rent out your place while traveling. If the apartment is yours, then it’s all up to you, and if you’re under a lease, you can always discuss this with your landlord.
In the second case, it's vital to discuss this with the landlord and check the lease. In many cases, contracts might already have a clause that allows for subletting, while in others, you can always reach an agreement with the landlord. If you're a long-time renter, they are not likely to say no and put the apartment back on the market all over again. It's much easier for the landlord just to allow you to sublet while you're away. Plus, subletting is beneficial for both them and you.
When you reach an agreement with your landlord, you should make sure that you find a trustworthy person to whom you'll sublet and create a new contract between them and you. That will ensure that everything is in accordance with your wishes. Plus, you'll make sure that the landlord is happy as well.
All of that is pretty much the same when you own the apartment yourself. The only difference is that you can rent out the place directly and set all the terms and conditions according to your wants and needs.
How to Rent Your Apartment
Now that you are convinced that renting your apartment is the right thing to do, let's talk about how to do it.
If you're not a big traveler, and you're only doing this once or twice a year for a short time, it's much easier to rent to a friend or a friend of a friend. Since you'll be gone for only a short time, it's better to take the route with less hassle.
However, if you're traveling more often, and sometimes for a very long time, then it's good to consider sites where you can list your apartment.
Booking is one of the most popular sites for people to find a place to stay while on the road.
You can also go for sites like Airbnb – the number one site for listing apartments and houses. There are other sites to consider as well, like HomeAway, Flipkey, RentCompass, and others that can offer better lessees than the top ones.
Once you list your place, you’re bound to find someone in no time so you can get ready for your trip!
How to Rent Your Apartment
Now that you are convinced that renting your apartment is the right thing to do, let's talk about how to do it.
If you're not a big traveler, and you're only doing this once or twice a year for a short time, it's much easier to rent to a friend or a friend of a friend. Since you'll be gone for only a short time, it's better to take the route with less hassle.
However, if you're traveling more often, and sometimes for a very long time, then it's good to consider sites where you can list your apartment.
Booking is one of the most popular sites for people to find a place to stay while on the road.
You can also go for sites like Airbnb – the number one site for listing apartments and houses. There are other sites to consider as well, like HomeAway, Flipkey, RentCompass, and others that can offer better lessees than the top ones.
Once you list your place, you’re bound to find someone in no time so you can get ready for your trip!
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