The Ultimate Guide to Start a Rental Business in UBelt

Congratulations, you’ve bought your first property in the heart of Manila!

So, now you have an empty condo in UBelt and are ready to make some extra income by renting on the side? Don’t worry, we’ve got you. Here’s everything you need to do to start renting your property in the University Belt  – Made easy by Dormy!

Turn your property into a Rental:

The most reliable way to make extra income from your condo is to convert your property into a rental. The University Belt (namely, around the districts of Quiapo, Sampaloc, and San Miguel) is littered with numerous universities. Some big names around UBelt are: the University of Santo Tomas (UST), University of the East (UE), San Beda University, and the National University (NU). In UBelt, there is no shortage of students looking for Dorms– the perfect place to start renting your property.

Here are 3 things to consider before renting your unit out:

Repairs and Maintenance

Before dormers can rent your unit out, it is important to conduct a thorough inspection of the utilities and structure of the property. This is to ensure that the maintenance is up to date and that the condo is in excellent condition so you can save a lot of money and frustration in the long run. Additionally, a well-maintained unit attracts more tenants. This process includes checking the utilities such as the electrical, water, repairs, and parking space if necessary.

Terms and Conditions

Setting clear terms and conditions before renting your unit out is vital for a smooth landlord-tenant relationship. At the minimum, these terms should include the duration of the lease, rent payment deadlines, security deposit requirements, and policies on maintenance responsibilities. It is also important to decide on whether you will allow pets, roommates, visitors, and etc.

Pricing

Today, in the saturated market, deciding on a price can be confusing. But setting the right price is essential to attract renters while maximizing your investment returns. To do this, begin by researching the local market to understand the current rates for similar properties in the area. But to cut you of the time and effort, one of the many perks of listing on Dormy is the consultation we can provide you on the best price of your property.

List with Dormy:

Now that your UBelt property is ready, cut your time and effort in half by leasing on Dormy, your one-stop rental solution. Why Dormy? Because Dormy cares for its tenants and property owners.

Your extra income can just be a few clicks away: List your property on our website for FREE by signing up at https://business.dormy.ph. Once your unit is listed, you’ll have access to built-in rental tools, including a messenger for inquiries, a calendar to manage visit schedules, and a lead classification system. Plus, all our tools are designed to be user-friendly.

Dormy also offers marketing packages for a cheap price for what you get! Reach more potential tenants by promoting your listing on our social media platforms. Our campaigns have successfully reached millions for our partners. If you’re interested, contact us at [email protected] or message our Facebook page: Dormy PH.

Conclusion

Ultimately, renting out your first UBelt condo can be intimidating. It takes time, money and effort to go through all the necessary steps of preparing your property for tenants. Plus, you still have to go through the headache of marketing your unit and reaching your target audience. So, don’t trouble yourself any longer – sign up and list your property on Dormy today! For a seamless renting journey, get started at https://business.dormy.ph