Tag: how to rent my house

How to Renovate Your House Before Renting It Out

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Renting out a property is a smart investment strategy if you’re looking to beat high inflation rates. with rental prices rising by around 5% per yearnow is a great time to start earning passive income.

But just having a property to rent isn’t enough. To make money, you’ll need to be able to attract potential tenants, which is no mean feat. For that reason, renovating a house before you rent it out can be a smart move if you’re looking to attract tenants and increase your rental income.

Here’s what you need to know before you carry out renovations on your rental property.

budget

Firstly, it’s important to budget when looking at your renovations. If you overspend and get yourself into serious debt, there’s no guarantee that your rental property will bring in enough to cover this!

So, the first step is always looking at how much you can afford to spend on the renovations, so they don’t eat into your profit.

If you know that you’ll need to take out a loan, it’s a good idea to improve your credit score to get the money you need.

Decide on the type of tenant you want to attract

Not

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Portugal Could Force Property Owners to Rent Out Vacant Homes

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The Portuguese have a saying that goes “Each monkey to its own branch,” but the government has a problem with empty branches.

Portugal’s Ministry of Infrastructure and Housing wants to force owners of vacant homes to make them available to long-term tenants at economical costs to correct a growing housing crisis, Bloomberg reported Monday.

All That Glitters

While the government says the measure will address the dearth of affordable housing, property owners say it violates their constitutional rights. The Portuguese Association of Real Estate Developers and Investors is even calling it “an attack” on private property. Housing Minister Marina Goncalves defended the decision saying, “The state does not enter and occupy people’s homes and then say, ‘Now I’m here.’ We have steps that will be taken.” That’s a relief, we think.

Portugal has remained on the poorer end of the spectrum of Western Europe for quite some time. Following a financial crisis and a 2011 bailout by the European Union, Portugal has managed to raise $7.3 billion through its Gold Visa — established

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