Renting Space– A ‘Rentee’s’ Perspective
When we are considering renting our extra space to someone, it is a good idea, to try to understand what is going on in the mind of the person interested in that space. Let’s refer to the person interested in renting the space as a ‘Rentee’.
The Rentee, first of all, looks for value for money. He is trying to get a space to suit his needs at a minimum investment. Needs of space can be varied. People generally look to rent space when they require space for a temporary period. Space could be required for storage purposes, residential, business purposes like renting an office or a meeting or conference room.
When a ‘Rentee’ has an excess of goods to be stored, he will look for storage space which could be a shed in your backyard or a storage warehouse or a storage garage. He is interested in the safety of his goods. You have to provide security from thefts. You should ensure that the goods are protected against damage by weather. You should also provide protection against moulds and pests inside the storage space.
When a Rentee is looking for an office space, the location and area of the space are major criteria for selection. The requirement of office space could be just a desk space or an entire floor, or a serviced office that is ready to move in. Some people require offices with meeting rooms or conference rooms included in the rental package. While some others may require renting a conference room for just a day. The owner of such rooms has the flexibility to provide the conference room as per the need of the Rentees.
Sometimes, a Rentee might just need to rent a room for residential or business purposes. You can rent out a spare room in your own apartment. Rooms are rented by tourists or by people looking for temporary accommodation. Sometimes a single room is rented out to multiple tenants. Rentee might need the room for just a day or for a longer duration.
Whenever someone needs any kind of space for rent, he will want an easy way to find it. It has become convenient to locate such spaces on various space listing websites. These sites provide information about the location of spaces and some basic details about them. Once the space seeker has this information, he can contact the owner of the space and they can proceed with the deal.
The terms and conditions should be clear-cut in the deal. The basic points to be considered are:
Rent of the space, the term of the lease, increases in rent, deposit, additional charges such as utility, common area and overall maintenance, the right to sub-lease etc.
These days when there are so much uncertainty in the economic market, real estate prices are also affected. Therefore more and more people are abstaining from purchasing real estate. Instead, they are trying to rent spaces as per their requirement. Property portals on the internet have made renting spaces easy. Nowadays, owner of the space and the person interested in it are able to communicate directly without the involvement of a third party.