A.D. Cantelmo Property Management
Our Business is Property Management Orange County California
How to get the most for your rental
In my business, I obviously am always trying to get the most money for
the properties I manage. Just like when you sell a property, everyone who is
looking to lease a property has an enormous amount of information about where
rents are in any specific area. So the big question, if everyone know what
rents go for in the area, how do better.
Even though in many respects, renting a property is similar to selling a
property, but there are differences. For example, when you want to buy a property,
the last thing you want to do is pay a premium even if you really like the Home
and the area. Buying a home is an investment and you need to think of it in those
terms. Not only do you need to watch your monthly payment, but you want to make
sure that your investment is going to be profitable when you decide to sell.
Renting a property is short term and not an investment. When people rent a
Home, they do so for many reasons. Location is the number one reason, and of
course price. What the property is worth 5 years down the line, is of no concern
to the renter.
Because renting a property is short term and location is a primary
reason for renting a certain home. Even if the properties in the area are renting
for a comprable price, it doesn’t mean you are stuck in that price range. I
have rented many properties for much more then the area properties rented for,
not because the home I was renting was any better, but for nothing more complicated
than good timing.
First of all, people rent properties all year long, so when you hear
that certain months are bad for renting properties, ignore that. Sure, people
with children in school, want to be settled before the school year starts, but
not everyone has a choice when to move. They may be moving for a job, or maybe
the property they have been living in will no longer be available to rent, or
maybe they sold their personal residence and need a place to live until they
find a new home to purchase. There are all kinds of reasons that people need to
find a rental property.
So let’s get back to how you get the most for your property. First, if
you are going to price your property higher than the comparable properties in
the area, you need to be patient. If you need to rent your property quickly,
you should price your property at the market rate. The first thing I ask a
client is, do you have time, or do you need a quick Tenant. Then, make sure you
make the property available for many showings. Even though it only takes one
person who loves your property and is willing to pay more, you may need to show
it to many times to find that one perfect renter. Sometimes you get lucky and the perfect renter
comes quick, but never count on that. Make sure your property is clean and
shows well. Most people don’t want to rent a messy property. You want people to
walk in and feel comfortable. I’m not saying pay a lot of money to upgrade your
rental, but you want to make it appealing. The other thing, is remember that if
you don’t want pet’s, you cut out a large percentage of renters and many people
with pets will pay a premium if they find a property that suits them.
One last thing to remember, you should always have the attitude that you
want to put people in the property and not have the attitude that the renter is
lucky if you allow them to rent your property. When you look down on people
just because they may not make a good first impression, you make a big mistake.
People are nervous and they never know how you are going to react to them, so
be welcoming and treat everyone as if they are going to be the perfect Tenant.
A.D. Cantelmo Property Management
Specializes in Property Management Orange County Ca.