You don't buy investment properties for your health. The whole idea is to turn a healthy profit month-over-month and set yourself up for retirement. VerticalRent's Small American Landlord Series is proud to announce it's recent edition, 8 Factors Affecting Rent Prices. This comprehensive guide gives you insider perspective of how to maximize the rent you collect for your investment property.
LAW
DEFINITION
PURPOSE AND FUNCTION OF LAW
CLASSIFICATION OF LAW
ADVANTAGES OF LAW
DISADVANTAGES OF LAW
TYPES OF LAW
CONSTITUTION
NEED OF CONSTITUTION
CHARACTERSTIC OF GOOD CONSTITUTION
CONSTITUTION OF PAKISTAN 1973
“Divorce In Private International Law”
With people's desire to seek higher living conditions, education, or work prospects expanding as a result of globalisation, the use of private international law in family conflicts is becoming more widespread. Private International Law, commonly known as 'Conflict of Laws,' is a set of laws, regulations, and ideas that deal with legal disputes between persons or constituents of two sovereign states, extending beyond national borders. When it comes to family disputes, Private International Law can be used in a variety of situations, including parental kidnapping, international child support concerns, cross-cultural marriage registration, dual citizenship issues, and matrimonial disputes like divorce or judicial separation.
Do you have prospects that are considering buying their first home? What are you doing to keep in touch with them and show them your value as a professional. In this Breakthrough Broker Exclusive series we provide you with a 12 email series which you can customize for you own brand and needs targeted for First Time Homebuyers.
LAW
DEFINITION
PURPOSE AND FUNCTION OF LAW
CLASSIFICATION OF LAW
ADVANTAGES OF LAW
DISADVANTAGES OF LAW
TYPES OF LAW
CONSTITUTION
NEED OF CONSTITUTION
CHARACTERSTIC OF GOOD CONSTITUTION
CONSTITUTION OF PAKISTAN 1973
“Divorce In Private International Law”
With people's desire to seek higher living conditions, education, or work prospects expanding as a result of globalisation, the use of private international law in family conflicts is becoming more widespread. Private International Law, commonly known as 'Conflict of Laws,' is a set of laws, regulations, and ideas that deal with legal disputes between persons or constituents of two sovereign states, extending beyond national borders. When it comes to family disputes, Private International Law can be used in a variety of situations, including parental kidnapping, international child support concerns, cross-cultural marriage registration, dual citizenship issues, and matrimonial disputes like divorce or judicial separation.
Do you have prospects that are considering buying their first home? What are you doing to keep in touch with them and show them your value as a professional. In this Breakthrough Broker Exclusive series we provide you with a 12 email series which you can customize for you own brand and needs targeted for First Time Homebuyers.
5 Clues to See if You Are Cut Out to be a Landlord?Dean Graziosi
It’s easy to get someone excited about investing in rental properties. After all, you get to bank monthly cash flow, enjoy some tax advantages, and you’ll probably end up with appreciated value when you sell. With all of these good points, there is one facet of rental property management that can turn all of your joy into headaches if you aren’t prepared. It’s those pesky tenant relationships.
13 Key Considerations to Evict a TenantMatt Angerer
So you found yourself a squatter, huh? Your dream of owning rental properties turned into a small nightmare. Well, it's time to get rid of that tenant! VerticalRent has your back. We've researched and documented 13 key consideration to evicting that tenant. Get to work!
While own¬ing a rental can be a good way to make some extra money, there are con¬cerns that should be taken very ser¬i¬ously.
You need to take a good look at the pros and cons before mak¬ing a hasty decision.
At the very least, learn the basics before mak¬ing your move.
Landlords come from all walks of life, and they can be pros or reluctant landlords who couldn’t sell their home. Whether you’re considering rental property investment, can’t sell and need to rent out your home and move, or you’re already a landlord, these five tips can help you sleep at night and keep a smile on your face on your way to the bank.
Loanseeker is Australia's Leading Online Mortgage Broker. With a fully stocked Resource Centre to help everyone become a property investing guru. visit http://Loanseeker.com.au for more info.
Your rental property deserves the best tenants, so for that, you should be doing a lot of background verification which is said to help you in the long run. This piece of writing will give you loads of ideas about how to find a not so good tenant such that you can be trouble-free beforehand.
Successful Landlords Arent Wimps By Aleksandra Todorova .docxpicklesvalery
Successful Landlords Aren't Wimps
By Aleksandra Todorova
August 15, 2005
THINKING OF BECOMING A LANDLORD? Join the club. As the real estate market cools, an increasing number of
homeowners are deciding to hold on to their old properties and rent them out until the market recovers.
The appeal is clear. What could be easier than collecting rent and using it to pay off your mortgage, all the while
enjoying some serious tax benefits1 and property appreciation?
But while renting out a property has its perks, there are also many legal and logistical hurdles. "You can put your
stock certificate in your drawer and there's pretty much nothing you can do to make it grow or increase the rate at
which it grows," says Janet Portman, an attorney and co-author of the book "Every Landlord's Legal Guide." "But if
you buy real estate, whether it's going to end up being a good decision is substantially up to you. There's a lot of
work involved in being a landlord, and if you don't do it right, you can end up losing money."
Here's a quick run-down of what every landlord needs to know.
1. Run Your Property Like a Business
You may already have a nine-to-five job. But if you're planning on becoming a landlord, expect your hours to jump to
24-7. Here are the steps that all new landlords should take.
Know the Rules
Getting your business off the ground will involve some paperwork. Some states require that you get a business
license for your property in order to rent it out, says Melissa Prandi, author of "The Unofficial Guide to Managing
Rental Property" and owner of Prandi Property Management. She recommends that first-time landlords consult with
a real estate attorney and a certified public accountant (CPA) before getting started. A CPA can help you figure out
how much rent you should charge in order to make your business profitable, while an attorney can be priceless as
you learn the intricacies of the fair housing laws. (More on these later.)
Second, says Prandi, take care of the "technicalities" of running your business: Open a bank account for the
property and run all bills and rental income through that account. This will simplify your paperwork come tax time.
Small extras like business cards will let your tenants know that you're an accessible and reliable landlord.
Find Reliable Tenants
Finding tenants should be the most time-consuming part of your business. "Where landlords get into trouble,
especially new ones, is that they rent to friends, relatives or people who they feel would be good tenants," says Bill
Moore, founder of Landlord.com3, a professional organization for landlords and real estate managers.
Instead, think of finding a tenant as hiring them into the family business: Check their references (speak with their
previous landlords), pull their credit report and consider running a background check. The National Tenant Network4
and Registry SafeRent5 sell credit reports from the three major credit b ...
Strategies for Building a 25+ Unit Rental Property PortfolioMatt Angerer
Homeownership is dwindling, and renters are on the rise. In fact, new rental households have grown by 777,000 a year since 2004. This means it is a prime to build an extensive real estate rental portfolio. While most people can figure out how to acquire one or two rental properties, few know how to build a portfolio of 25 properties or more. If you utilize the right strategies, you can grow your portfolio by leaps and bounds. You will then make the money you need to enjoy your retirement.
Private Label for Brokerage and Property Management FirmsMatt Angerer
VerticalRent offers a 100% private and whitelabeled version of it's platform to Brokerage and Property Management firms. Lock-in the industry lowest pricing on credit, criminal, and eviction reports with our FCRA-compliant platform.
HPE Fortify OnDemand Helps VerticalRent Achieve E13PA Compliance Matt Angerer
ResultsPositive Inc., a Platinum HPE Partner, leveraged HPE Fortify OnDemand to help the nation's leading online rental property and tenant screening platform achieve E13PA and PCI-DSS compliance. This case study showcases the opportunity and how the ResultsPositive team can help your organization protect application and achieve compliance.
This is an exclusive opportunity offered by ResultsPositive and HPE to provide your organization with an onsite overview of the latest and emerging technologies from HPE!
HPE Project and Portfolio Manager and Agile ManagerMatt Angerer
Collaborative decision is paramount in today's fast-paced software delivery environment. With PPM 9.31, you can now integrate the work effort of your Agile Team into timesheets. Through a free adapter available on HP Live Network, you can save your team the hassle of logging time in multiple systems. Now your developers can focus on what they do best, code!
Program Management Office (PMO) tools shouldn't be overly complicated or difficult to use. With PMOView, your organization can quickly mash up data sources and build custom integration points between enterprise leading products like HP PPM, ALM, and Agile Manager.
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
MC Heights-Best Construction Company in jhanglaraibfatim009
MC Heights stands as the epitome of excellence in construction within Jhang. With a commitment to unparalleled quality and innovative design, MC Heights redefines urban living in the heart of Jhang. Offering luxurious residential spaces, cutting-edge commercial complexes, and vibrant community areas, MC Heights caters to the diverse needs of modern lifestyles. Our dedication to superior craftsmanship and customer satisfaction ensures that every aspect of MC Heights exceeds expectations, making it the premier choice for those seeking unparalleled sophistication and comfort in Jhang.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Avrupa Konutlari Yenimahalle - Listing TurkeyListing Turkey
Welcome to Avrupa Konutları Yenimahalle, where luxury living meets unparalleled convenience in the heart of Istanbul. Developed by Artaş Holding, one of Turkey’s leading construction companies, this prestigious residential project offers a contemporary lifestyle experience like no other.
https://listingturkey.com/property/avrupa-konutlari-yenimahalle/
Oeiras Tech City, Developed by RE Capital and REIG, Will Become Lisbon's Futu...Newman George Leech
Oeiras Tech City, a historic development in the Oeiras municipality of Lisbon, is acquired by RE Capital and REIG. It is located on a 93,000-square-meter plot of land and combines co-living, business, and residential areas. It highlights ESG principles and is close to Tagus Park, which improves the urban landscape of Lisbon.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
4. 8 Factors Affecting Rent Prices 2
Research
Naturally, as a landlord, you want to make sure you get the most rent possible for
your property. However, it’s important to keep in mind that you must price your
rental appropriately and in line with the local market. Below, we explain how to
research your local market to ensure you get top dollar for your property.
Whether you are just starting out or you are an experienced landlord, it’s important
to research the rental rates in your local market. You should do this regularly to
make certain you are making the most of your rental property income potential.
While it does take time to do this, this one step can help you avoid overcharging,
which could result in vacancies, as well as making sure you do not charge too
little. When done properly, market research can help you reduce vacancies,
attract high-quality tenants, and keep your profits high.
Introduction
5. 8 Factors Affecting Rent Prices 3
Before we get started in reviewing how to perform market research, it’s important
to define market rent. This refers to the going rental rate for properties within a
specific area. As is the case with most things, the rent is based on what the local
market is capable of absorbing. This is precisely why it is so vital that you perform
this type of research. You cannot simply set a rent and expect someone to pay it.
First, consider whether your property is multifamily or single-family, because it does
make a difference in terms of the amount of rent you can charge. Generally
speaking, a multifamily property will command less rent than a single-family
property. The reality is that even a duplex is not going to receive the same rental
rates as a single-family home. Renters prefer the privacy of a single-family property
and will pay more for it.
Methods and Techniques for Researching Fair Market Rents
There are a few different methods that you
can use to research local rental rates. One
option would be to simply drive around the
neighborhood and keep an eye out for
properties that are available for rent and
then call to inquire about the rental price.
Another option is to check the local MLS. To
do this, you will need to look for listings
online, such as on a site like Realtor.com, or
contact a local real estate agent. You could
also look for rental listings on Craigslist and
similar online classified sites.
Contacting local property management companies could also provide you with
information about the going rates for rental properties, as could speaking to
members from the local landlord association, if you have one in your area.
What Is Market Rent?
6. 48 Factors Affecting Rent Prices
You might also find it helpful to use an automated market rent determination tool,
such as Padmapper, Rentometer, or Zillow, but keep in mind that it’s still a good
idea to confirm these estimates by performing some actual research in your area.
The U.S. Department of Housing and Urban Development, or HUD, also compiles a
list of Fair Market Rents each year for more than 2,500 metro and non-metro
counties. These market rent prices are developed for determining the rental voucher
amounts of government subsidized housing programs, including Section 8.
What does this mean for you? As a landlord, you are probably all too well aware that
location is everything when it comes to real estate. If you own rental properties in a
lower-income area, the HUD Fair Market Rent information could prove to be helpful
to you. On the other hand, if your rental property is located in a more affluent part
of town, this information is probably not relevant.
Factors Affecting Rental Prices
In gathering your research, you will likely find there to be a broad range when it
comes to rental prices in your local area. This is likely because not all properties are
the same. Just as single-family properties tend to command higher rental rates than
multifamily properties, there are many other factors that can affect rental rates.
These factors include:
Ø Number of bedrooms
Ø Number of bathrooms
Ø Pets allowed
Ø Square footage
Ø Parking
Ø Washer/dryer
Ø Location
Ø Lawn
7. 58 Factors Affecting Rent Prices
Obviously, properties with more bedrooms and baths, with more space, that allow
pets, that have more parking, and that are located in a highly desirable area will be
able to command a greater rental rate. You should also adjust for any amenities
your property either possesses or lacks from similar listings in your area. For
instance, if your property has upgraded features that other properties do not, you
should add to your rental price. If other similar properties in the area have certain
amenities that your property does not, you will need to lower your rental rate.
Whether you choose to allow pets in your
rental is naturally a personal decision.
You may find you have more rental
prospects if you do allow pets, at least
with some restrictions, such as only
small breeds. On the other hand, many
landlords are naturally wary of doing so
because they fear damage to their
property, and with good reason. If you
do choose to allow pets, even with
restrictions, keep in mind that you can
usually ask a higher rent to compensate for the risk you are incurring. You may also
be able to charge a reasonable pet deposit.
You should also consider your minimum lease requirements because they can
influence your rental rates. For instance, if you offer a shorter lease, you may be
able to command a higher rental rate. Likewise, if tenants are signing for a longer
lease, you may need to adjust your rental rates accordingly. If your rental property
is located in a homeowners’ association, it’s important to check the rules, as some
HOAs will not allow owners to rent their properties on short-term leases.
8. 68 Factors Affecting Rent Prices
Is your unit furnished? A furnished rental is usually
able to command more rent than an unfurnished
rental. Bear in mind that the condition of the
furnishings will likely affect how much more you
are able to command for a furnished unit than for
an unfurnished unit.
What Tenants Are Looking for in Rentals
Just as with homebuyers, prospective tenants are all looking for certain things in a
rental in order to be willing to pay top dollar for a property. Some of the items that
tend to be at the top of the priority list for renters include:
Ø A property that is clean and well maintained. The reality is that renters are not
going to pay top dollar for a property that is not well maintained. Quality renters
are looking for properties where maintenance will not be an issue and if there
are any problems, the landlord will handle them without delay.
Ø Location. A property situated near essential services will always garner higher
rents than a property in an outlying area. Properties located near schools,
shops, leisure facilities, and transportation are most highly valued among renters.
Ø Storage. Most renters today are looking for rental units with ample storage
space. Everyone today seems to have more stuff than ever, and they need a
place to store their belongings without also having to rent a storage unit. If your
property provides extra storage, you will likely be able to ask a higher rent.
Ø Amenities. Appliances, such as garbage disposals, dishwashers,
washers/dryers, etc., are practically considered must-haves in rental units
today. If your property features these items, you will definitely be able to charge
a higher rent.
If your property has these features, you can rest assured it will appeal to a larger
range of tenants who will be willing to pay more to feel comfortable.
9. 78 Factors Affecting Rent Prices
First Impressions Matter for Rentals, Too
You should also keep in mind the importance
a first impression a rental property can make
on a person when walking through the door
to view the property. Updates can be
tremendously helpful for boosting that first
impression, particularly when you are
competing with a large number of other
properties. Before showing a property to
prospective tenants, always make sure the
carpets are clean and the paint is fresh. Many landlords make the mistake of trying
to fill a vacancy so quickly that they do not take the time to freshen it up properly
following the last tenant. In some cases, you may not be able to allow much time
between rentals to fill a vacancy, but taking the time to freshen up a unit and
perform some updates can go a long way toward helping you get the highest rental
price possible. It's also important to take great pictures for marketing purposes so
prospective applicants will be able to see how great the property is before they
physically tour it.
Bear in mind that you will also need to consider whether there are any restrictions
or government controls regarding local rents. In some areas, there is rent control,
which can place an artificial control on the market, so you will need to know if that
is the case when you are evaluating the local market.
Restrictions
10. 88 Factors Affecting Rent Prices
Testing the Market
Once you have decided on a rental price,
it’s a good idea to give it a test run. This
can be particularly important if you have
determined that your rental rate should be
greater than the average market rate for
your area. Offer your property at the test
rate for one to two weeks. Doing so will
give you a good idea as to how prospective
renters feel about your property and the
asking rent. If you have a lot of inquiries,
you will know that your rental rate may be
low. Conversely, if you receive few
responses, you will know that your unit is
priced too high.
Keep in mind that if you do opt to give your rental price a test run that you do so
with caution. This must be handled carefully, or you could find yourself facing
potential legal trouble. Some landlords have been accused of a practice known as
bait and switch by advertising a low price and then charging a higher price. Not only
is this unethical, it is also illegal.
It's also important to pay attention to the number of people who actually follow
through with appointment to tour the property. In some cases, landlords may notice
they have a number of phone calls but prospective renters frequently cancel or
never show up for their appointment to see the property. When this happens, it’s
usually an indication that either your property lacks curb appeal or that competing
properties are priced better.
Suppose you show the property to a larger number of people, but you do not
receive any actual applications. This could be an indication that you need to
evaluate the interior of the property and consider making improvements or lowering
the asking rent.
11. 8 Factors Affecting Rent Prices 9
Ultimately, the amount you charge for rent will be based on what the current market is seeking
at the time that you list your property for rent. By conducting research, you will be able to
establish a fair market rent value for your unit. However, keep in mind that fair market rent
values can and will change over time, so it’s important to stay on top of this to ensure your
property remains competitive.
Conclusion