For those who have a house which has more space or rooms than what they require, renting a small unit of one or two rooms is a good idea and a good source of income. There are thousands or even millions of people who leave their native place/village and come to big cities or towns in order to explore more opportunities and earning potential and getting an accommodation to live and get some privacy during "off hours".
Rented flat becomes a necessity for them as they are not able to buy a house or land to build their own house. These people can be salaried person with transferable job, students, workers and even self employed people who come to big cities with an ambition of higher income and/or better life style.
In order to meet the growing demands of people wanting a rented accommodation, modern private houses are built these days in order to make a provision for a separate enclosure which can be given on rent to the needy people. flat to rent can be given on a temporary basis or permanent basis with a provision of renewal and rent hike after a specified time period as per the agreed terms and condition between the landlord and tenant. Letting a flat to rent these days have become a matter of proper verification of the prospective tenant by the landlord. The landlord needs to verify certain things like the profession of the tenant, his ability to pay the rent in time as agreed, number of people going to live in the rented flat, kind of guest who will visit the tenant and so on. These things need to be asked and documented some where to avoid any confusion later on.
A proper rent agreement for flat to rent is also necessary these days so that if a conflict arises, the same can be referred to as and when needed. As per the tenancy law, a notarized agreement is necessary should the conflict increase and needs to be put to the lawyers for a solution. This is beneficial to both the parties.