In Boston, where real estate has historically been a safe and positive investment, many people choose to rent out their current homes when upgrading to a larger space or different neighborhood. Because of the transient nature of the city of Boston, there is always a steady stream of people coming into the city looking for spaces to rent. Our rental team takes out customers every day all over the city looking at everything from $1,200 studios to $10,000 single family homes.
So what do you need to know if you have decided to rent your home? We talked to some of the people in our Property Management division who deal with move-ins on a daily basis and asked them for some tips. The Property Management Providers will organize NNN lease properties for sale and consider all the expenses, costs associated to constructing, maintaining location and maximize the rent price you can get each month as well as potentially. And who doesn’t want that?
1. Make Repairs
It is important that all items in the home are in working order to the best of your knowledge. Not only is it important legally, but it helps renters feel confidence in you as a landlord. Before you show the home to rent, make sure that all your plugs work, faucets flow well, and that all major and minor repairs are completed.
2. Neutralize
You have heard it said on HGTV, renters (or buyers) want to be able to envision how they would live in the space – not see how you did. Even though that purple polka dot room with a black ceilling is the space of your dreams, it may not speak to everyone. Consider neutral paint like taupes and beiges and coordinating trim and accents.
3. Declutter
Whle your collection of 4,000 shot glasses may be impressive, it is probably taking up valuable space that people want to utilize. Take time to eliminate “non-essential” items and make the spaces seem as large and inviting as you can. Putting things into storage or getting them moved and just leaving the needed items can help a potential renter see the space better.
4. Be Price Savvy
What does this mean? Well, be smart about the price you weant to get each month in rent. While everyone thinks their home is a palace, not all are. Be realistic with yourself about market rents and consider the true value of your home based on the benefits to a potential renter.
5. Hire Us
Haha! OK we aren’t trying to get salesy but many people underestimate the time and stress that goes into getting a renter for their home. Outside of the potentially many showings, it is important to screen a tenant and make sure they are financially able to afford your home. At Charlesgate, we can handle the entire process and promote your property to our network of interested parties. This typically means a smoother transaction for our clients and more smiling faces!
