So you ended up with a spare room on your property, and you don’t know what to do with it? Many people convert their spare rooms into playrooms or rarely used offices, but the best way to use an extra space is to transform it into a rental. Here are some of the rules and tips on how to rent out a room in your house in Madeira.
Tenants for your room in Madeira
With Flatio taking care of the rental process through a solution that is 100% online based on the latest technologies tool applied, the most important and first step you need to take is figuring out what types of tenants you want to attract. This will reflect on what changes you need to make to the room and how to best market it.
You can focus on many different types of people but here are just a few large groups: tourists, students, digital nomads, remote workers and business travellers. Each group is looking for different amenities in your room. Think about what your room has without any alterations. What’s its size? How close to the centre is it? Does it have easy access to WiFi? Is it calm? How many people can comfortably live there? Is there a space for work or only for leisure? And so on.
Once you figured out which group of people you want to cater to, think about the advantages of your room that you want to tell them about. Students and digital nomads will want to know they will have a comfortable accommodation in Madeira to work, families will want to see they will have enough space, and tourists might want to see where your property is situated. Make sure you write down as many advantages as you can think of, and make sure you don’t omit any significant disadvantages. A happy tenant rents out the room and gets exactly what they bought.
Practicalities of renting a room
The above are general things to think about when you want to rent out a room, but you need to do a bunch of practical stuff before your new tenants move in. Firstly, you want to make sure that your room is furnished. Make sure it is fully furnished and equipped but don’t overdo it. Your future tenants will want to make the room their own, so they should have enough space to do so. Make sure to buy equipment for your target group. This can be a desk for students and digital nomads, international plug extensions for foreigners, or even a bed for small kids.
One way to figure out what to buy is to look through reviews of similar rooms and see what people lacked. Alternatively, ask your future tenant whether they lack anything. Every person has specific needs, and fulfilling them will go a long way towards your good name and rating. Now that you have made the life of your tenants comfortable make sure you take care of yourself. Consider what it will be like to have strangers living with you. Make some house rules so that you have boundaries and share responsibilities. Protect your valuables – it is rare but not impossible that you may run into some bad tenants. And lastly, make sure you’re communicating both with the tenant and with Flatio about problems that may arise.
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