Advertise on multiple channels: Yad2, Airbnb (if applicable), neighbourhood boards

In the "Renting Out the Property" step of the real estate buying process, it is important to: Advertise on multiple channels: Yad2, Airbnb (if applicable), neighbourhood boards. Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Take quality photographs of the property — it makes a big difference!

In the "Renting Out the Property" step of the real estate buying process, it is important to: Take quality photographs of the property — it makes a big difference!. Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Conduct background checks on prospective tenants: employment, references

In the "Renting Out the Property" step of the real estate buying process, it is important to: Conduct background checks on prospective tenants: employment, references. Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Draft a comprehensive lease — don't download a template from the internet

In the "Renting Out the Property" step of the real estate buying process, it is important to: Draft a comprehensive lease — don't download a template from the internet. Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Collect a deposit of at least two months' rent before handover

In the "Renting Out the Property" step of the real estate buying process, it is important to: Collect a deposit of at least two months' rent before handover. Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Prepare a detailed handover protocol (photographs, utility meter readings)

In the "Renting Out the Property" step of the real estate buying process, it is important to: Prepare a detailed handover protocol (photographs, utility meter readings). Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Define upfront: who is responsible for which repairs? What is the response time?

In the "Renting Out the Property" step of the real estate buying process, it is important to: Define upfront: who is responsible for which repairs? What is the response time?. Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

Step 15 of 16

Renting Out the Property

Home/Buying Journey/Renting Out the Property

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Finding good tenants, drafting a proper lease, and managing the landlord-tenant relationship.

What you need to know at this step

Finding Quality Tenants

Your tenants are your "business". Good tenants will pay on time, take care of the property, and inform you in advance when there is a problem. Problematic tenants can cause damage that will cost you more than a year's rent. So — don't rush.

In your advertisement, write an accurate description of the property. Don't conceal negative information (no lift, noisy street) — otherwise you will attract tenants who discover it and won't stay. Good photographs are a small investment that pays off greatly.

Screening Prospective Tenants

Before handing over the keys, check: employment confirmation and salary (pay slip), reference from a previous landlord (if applicable), identity card. This is not about suspicion — it is reasonable business management. Honest tenants will understand this.

The Lease — Don't Underestimate Its Importance

A good lease is your best protection. A standard template from the internet is usually not suited to your specific property. A good lease includes: rent amount and payment date, mechanism for rental increases on renewal, who is responsible for which repair, restrictions on use (smoking? pets?), termination conditions, deposit and conditions for its return.

It is worth having a lawyer draft or review the contract — at least the first time.

Handover Protocol — Very Important

On the day the tenant moves in, prepare a detailed handover protocol: photograph every room, document the property's condition (scratches, cracks, defects), record utility meter readings, and have both parties sign the protocol. At the end of the tenancy, compare the condition against the protocol — and you will know what was caused by the tenant versus normal wear and tear.

Managing the Landlord-Tenant Relationship

A good relationship with the tenant pays off. A tenant who feels respected and protected will stay longer, report problems in time (before they worsen), and take better care of the property. Respond to enquiries in a reasonable timeframe, fix legitimate problems promptly, and respect the tenant's privacy.

✅ Checklist for this step

1
Advertise on multiple channels: Yad2, Airbnb (if applicable), neighbourhood boards
2
Take quality photographs of the property — it makes a big difference!
3
Conduct background checks on prospective tenants: employment, references
4
Draft a comprehensive lease — don't download a template from the internet
5
Collect a deposit of at least two months' rent before handover
6
Prepare a detailed handover protocol (photographs, utility meter readings)
7
Define upfront: who is responsible for which repairs? What is the response time?

⚠️ Important Note

The information and calculations on this site are for general guidance only and do not constitute legal, financial, tax, or investment advice of any kind. Tax brackets, interest rates, and other data are updated periodically and may not reflect the current situation at the time of viewing.

Before making any real estate purchase, sale, or investment decision — consult with a real estate lawyer, mortgage advisor, tax advisor and licensed appraiser as appropriate. Do not rely solely on calculator results when making decisions.