The key to renting a home in under two weeks isn’t a secret, but committing to the plan can be a challenge. As a property management company in Buford, getting a home rent ready is never an easy task. However, everyday the home is vacant is another day that something called life can happen. Vacancies cost money and a vacant house invites trouble. As a property manager, my job is to convince the homeowner that a little money upfront and a little planning will actually save them money, time, and heartache.
The last four properties we filled were all filled in under 15 days. Three of the properties still had someone living in them. The key is strategic planning and careful spending.
The first step…
1. Prepare the home. Clean, move-in ready inside and out. New or like new blinds, paint, nice bright light bulbs, clean carpet, clean floor, clean bathrooms, clean windows, and everything in working order. We can have all this done in usually one day or two at the most.
2. Massive amounts of marketing. Putting a sign in the yard and a posting on Craigslist is not enough. Within three days, we are on over 100 sites with postings, fliers, and video. There are more properties for rent in Buford, Suwanee, Lawrenceville, Dacula, and Sugar Hill than I have ever seen in my 9 years in property management. There is a tremendous amount of competition for rental homes in Gwinnett County.
3. Price according to the market not your mortgage. Some may say, if you can rent a house that fast in Gwinnett County you may have under priced it. Look at it like this. For every month the home sits, is another month a payment comes due. How many months will it take you to make back that $25-$50? Know your market and price the home competitively. Remember, your goal is to find a great resident who will stay a long time. Not a year.
The keys to property management and owning rental property are simple, but important. If you stray away from the basics, the lessons get expensive. If you have rental property or have a home that has not sold, consider hiring 4th Avenue Property Management. We have learned this business by owning and managing our own properties so we do not have to learn on your dime. We are a residential property management company specializing in Buford, Suwanee, Dacula, Lawrenceville, and Sugar Hill.