We are asked all the time "what do I need to do to help get my property rented quickly?". This year has been challenging in many ways as there are a lot of homes on the rental market compared to years past making the competition tough. Yes, it IS a renter's market but you can have a competative edge by following a few simple rules of thumb.
1. Hire a property manager who is going to be aggressive and knows the product and that "product" happens to be YOUR home. Find a manager that specializes in your area and knows the competition well.
2. First impressions are GOLDEN. Make sure the curb appeal is TOP NOTCH!!. Think about it...... How many times have you driven thru a neighborhood whether it be looking to purchase OR rent (and we all have at one time) and came to a home for rent (or for sale) and the grass is dead, weeds tall enought to tickle your knee-caps, shrubs that are waiting to gobble you up as you walk to the front door and God forbid the trash that is now accumulating on YOUR lawn and entry way from the landscapers/pizza delivery guys, etc. Yep, you just kept driving!!!!!!!!!!!!!!!!! That impression is going to be "I don't even want to know what the inside looks like!!". It is very cost effective to have a gardener take care of the lawn while it is vacant. Make sure the sprinklers are working property, a $10 bag of fertilizer can do wonders and besides that you don't want it to "look" abandoned. Time is money and for every day your home sits vacant, on average, you are losing $30 to $70 dollars depending on the monthly rent. ALSO, you may not need a complete paint job but my touching up just the trim, you will be amazed what a difference it will make at a very nominal cost in most cases. Not to mention protecting the wood from future dry rot which can be VERY costly.
3. Make sure you are priced right and being competative with the market RIGHT OUT OF THE GATE. People that are looking to rent will know your home has been newly placed on the market. If it is too high (even if you lower it later on) it may not be noticed like it would when the ad is new. Remember time is money!!!
4. Also, make sure the inside is clean, free from habitablity issues and make it look like YOU care for your investment. Chances are if it looks like you take pride in your home, they will also go the extra mile in taking care of it.
For any further questions, comments or concerns, please contact Leisa Wells at lwells@homepointe.com. Natomas/Antelope area agent 5 years running with over 20 years in the rental/real estate business.
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Specializing in the Natomas, Antelope, West Sacramento and Elk Grove areas. 2009 NARPM (National Association of Residential Property Managers) President-Sacramento Chapter.
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