Renting out your property, whether it is owned as an investment or as a residence, is a major commitment. Your Stribling agent will guide you through the process and help you maximize the return on your property by finding a qualified and reliable tenant.
Some factors to consider before putting your property on the market are: Will you be renting your property furnished or unfurnished? Are you providing utilities such as electric and cable? Will you allow pets? (Check your building’s rules, as they may restrict tenants from having pets.) These questions will affect the pricing of your property. So will the condition of the property; ensuring that your property is move-in ready will help you achieve the highest rent. With our knowledge of the local market, including comparable properties for rent in the area, the potential demand for them, and the rental prices being achieved, we are able to help you determine what the current market rent for your property should be.
Stribling will help streamline the rental process, marketing the property in both print and digital media to ensure exposure to the largest possible qualified audience. We will schedule and conduct viewings with prospective tenants and provide you with valuable feedback. We will negotiate on your behalf with prospective tenants. From application to lease-signing we will be there at every stage to ensure a seamless process. If a board package is required, we will review it and ensure that it is submitted in accordance with your building’s policy.
You should also be aware that, when renting out your property, you may be subject to the following fees:
- Building fees and deposits, such as move-out fees and elevator deposits.
- Broker commission: While brokerage fees are traditionally paid by the tenant, a higher gross rent is often achieved when the landlord offers to pay all or part of the commission.
When renting out your property, there are many factors to consider and guidelines to know. By working with Stribling, you will have the best experts in the field advising you every step of the way.