Rental Tips

Written By: Miller and Associates Realty On: 5th January 2015 Under: Tips

As Realtors, we get many questions regarding the purchase of property, whether residential or commercial.  Often times, that question is about highest and best use of the property.  With an improving economy, many residential owners are able to purchase second homes and lease one of their properties.  Did you know there are many steps you can take to get the highest and best return when preparing your property for rental?  First, inspect your property while it is still empty for any major problems or safety issues.  Clean the space so that potential tenants can see the property in top condition.  Determine how to manage rental.  Property managers are often a great resource if you do not live near your property.  They can also help you determine market value of the property and establish a fair and competitive rental rate.  Finally, be sure to notify your mortgage company and insurance provider that you are no longer residing on the property.  They may have guidelines to help both you and themselves protect the property.

Amanda Barrow