Rental History Template: Fill & Download for Free

Do you have enough resources to:Pay all expenses for three months when you have a tenant move out? Mortgage, utilities, taxes, insurance, maintenance (mow lawn etc.). And pay / advertising, etc. for getting it rented again and vet the possible new tenants.Pay for the materials and either do the work yourself of have enough funds to pay a contractor for the repairs to the property when the tenant moves and leaves the property trashed?This is the first and most important consideration. Hope is not a strategy, assume the worst can happen and ensure you will be able to handle it. THEN you can plan and ‘hope’ for a good outcome.Price - everything revolves around this. If you pay a high price then all other expenses will be more - higher mortgage payment, higher taxes, higher insurance rates. You want to pay less than half of what the comps are at most, ideally you want to pay less than the lowest comp in your area. Pay for a home inspection and use that as a tool to get a lower price and ensure you aren’t buying something with a bad foundation or…Rental history - get the last three years of rental history from the seller along with any utility or repairs.Walk or visit the neighborhood before you buy - in the morning, during the day, in the early evening and late evening on weekdays, Fridays, Saturday and Sundays - if you are willing to live in the area then you have a good chance to rent to someone who is also willing to live there.Now, you have done the first part of your due diligence. The next step is to determine if the rents in the area are going to cover your costs. Get all the figures you can and where you don’t have a definite number put a range - low to high. Now project out 1- 3 years for lows and highs - if the low figure is something you can live with then you are ready to buy. If not then create a blank template of what you just did and start looking for something that will fit for you.You may want to consider doing this for at least three properties before you buy anything. That will help inform you as to what is reasonable and what is unreasonable.The excitement, enthusiasm and allure of making money before you find out if your assumptions are based in reality has caused many an investor a great deal of pain.

A rent agreement is a legally binding contract between landlord and tenant laying out the terms and conditions of the tenancy.Many standard rental agreements used by realtors are intimidating and unnecessarily complicated for tenants to understand.A basic rental agreement simplifies the renting process making the information easier to digest for all parties involved - there’s no excuse for tenants or landlords to misconstrue the content of the contract. Furthermore, a simple agreement makes leasing your property more approachable to prospective tenants, increasing your chances of securing a lease with high-quality candidates.Your lease can be as short as you want. However, keep in mind that your lease length may influence your ability to attract tenants based on their requirements.There are five phases when it comes to optimizing your basic rental agreement template, including promotion, inquiry, inspection, application, and contract - and you should consider all the stages of this process: Rental Agreement - How to get the most out your basic tenancy agreement template (Free Template)Promotion - writing an engaging headline, description, and uploading quality images that showcase your space.Inquiry - it’s handy to have your basic lease agreement template drawn up as a reference so you can confidently answer questions about the conditions of your tenancy.Inspection - to get renters to inspect your property before signing your agreement so that the tenant has a realistic idea of what the property looks like before making a long-term commitment.Application - prospective tenants describe their rental history, references, income status, and identification as parts of the screening process to make sure that they are fit to pay the lease and will care for it.Rental agreement - at this stage, you would’ve referenced the details of your agreement in the previous four phases, which is also an opportunity for tenants to negotiate terms.

Well, Airbnb is a rather complex website. However, the amount of time required for the development and deployment of such a website (or any other platform, actually) depends on many factors, specifically I would name the following ones: how you build it and what functionality you include.What development approach to choose?Basically, you have two options. You can take advantage of ready-made products or use services of a software development consultancy to get your rental marketplace built from scratch.Let’s take a brief look at these solutions to get a better idea of how they can influence the time-frame for your project.Ready-made solutionThis is the most suitable option if you want to launch your website in a matter of days. Such popular out-of-the-box software products as Sharetribe, Yo!Kart or Shopify have extensive functionality and customizable templates that will give you more freedom in actions.However, when your business grows, you may face scalability issues. Besides, be ready to get lots of unnecessary features.Custom platform developmentThis option is more expensive and time-consuming. However, you will get a solution fully tailored to the specific needs and requirements of your organization.In addition, it will provide you with a high quality of the final product, domain expertise, advanced technologies, and standards, quick release, and reliability.What functionality to implement?Another factor that influences the amount of time you need for building your website like Airbnb is the functionality you want to implement.Building a marketplace MVPIt would be a good idea to create a minimum viable project of your marketplace before launching a full-fledged project. It will help you to verify your business idea and get feedback from early adopters.Since an MVP includes the very basic feature set, its release will not require too much time or money.Here is the functionality that should be implemented in the first place:Sign up/ Sign inBe a guest or a hostCommunication channelsSearch resultsFiltersProperty pageA host contact form.Launch of a fully-functional platformAfter building and launching an MVP, you can extend the functionality of your platform. It would be easier for you to do this if you divide features into two groups: for travellers and for hosts.These are the most required features for each side.TravellersAdd & edit profile detailsUse search & filtering options to find propertiesGet apartment detailsBooking & wishlistUse integrated messenger to contact a hostView upcoming/past bookings and reservations detailsReceive push notificationsSubmit reviewsAdd/delete payment methods and see transaction history.HostsList propertyWizard listingSet the pricing & availabilitySet the payment detailsUse integrated messenger to contact a guestAccept/decline requestsView upcoming/past bookings and reservations detailsSubmit reviewsAdd/delete payment methods and see transaction history.Summing upThe timeframe of creating an Airbnb-like website can vary greatly. So basically, it’s impossible to say how long it will take to build such a website without knowing all the variables.For further reading on creating a rental platform, I would recommend our recent blog article How to Build a Website Like Airbnb.In case you have come up with the project idea but do not know where to start, please contact us. At Codica, we specialize on online marketplace development, and we will gladly help you with building your platform.