NorCal Property Management: (408) 849-9315 or david@rentnorcal.com; www.rentnorcal.com
How to Advertise Your Residential Property
The process of finding and choosing a tenant is a huge decision for any landlord. I have noticed with Campbell property management, to do this effectively, you will need a reliable system to do so. There are certain things that you can check for to increase your chances that your tenants will pay their rent on time, take care of the property, and not cause any legal problems.
Define What Your Rental Terms Are
Before your put your property on the market, you are going to want to determine some other the following—how much rent to charge, whether you want a month-to-month lease, a 6 month lease, or a 1 year lease, the amount of tenants that will occupy the property, the amount for the security deposit and whether or not to allow pets.
Rental Amount
It’s always better to rent the property out at market price or slightly below, instead of letting it sit at an over inflated price in my opinion. Several Sunnyvale property management companies have noticed that Bay Area tenants are very knowledgeable on market conditions and an overpriced rental will stay on the market longer than it should. An occupied rental will always produce more of a return that one that is not occupied.
Duration of the Lease
If the rental market is unstable at the moment, you may want a secure one year lease from your tenants. If the rental market is solid, you may want to do a month-to-month agreement so that you can raise the rent.
Amount of Tenants
Take into consideration the layout and size of your property. How many people can realistically live in your property in a safe and habitable condition? In California, it is typically people per bedroom.
Security Deposit
Security deposits are used to cover damages upon move out and unpaid rent. I typically charge a one month security deposit for unfurnished property. If there is some instability in their credit history, raising the security deposit may be in order. In California, you are only allowed to charge up to two months’ rent for a security deposit for an unfurnished residential property. If the property is furnished, you may legally charge up to a three month security deposit.
Pets
You have the right to not allow pets in the property unless the pet is a service or comfort animal needed for a disabled person. Allowing pets in a competitive rental market can give your property a competitive edge against the rest. If you do allow a pet, you can increase the security deposit too.
It's important that your san jose property management company is aware of the topics mentioned above.
It's important that your san jose property management company is aware of the topics mentioned above.
Some links that may help with your tenant search!
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