Time To Get Ready For The 2009 Rental Season
It's that time of year again, no, I'm not talking about the holidays, its rental season. I know, summer is over and next summer is several months away. So why think about the 2009 rental season now?
This is the time when people start booking their vacations for next year. Having your rental property ready to rent at the beginning of the year will help to ensure that you get the maximum number of weeks rented at the highest rate. I am already receiving inquiries from people who want to rent next summer. This is the type of tenant that you want, one who is ready to make the commitment to book the property early. If you wait until later in the year what you will get are people looking for drastic discounts and this type of inquirer tends to be more trouble than they are worth.
The sooner you begin to book your property the sooner you get paid. When a tenant signs a lease with me, I take a deposit of 50% of the total rent. That money is sent directly to you, the property owner (minus the Agency commission).
Receiving rental money early will assist you with paying your expenses, like your mortgage, taxes and insurance, and also helps to cover costs of improvements you may like to make for the new rental season.
So, what should you do now so that you are ready for the 2009 rental season ?
Set Rates & Availabilty. Determine what weeks the property will be available and set your rates. Your rates should be competitive so it is best to consult with a local real estate professional who knows the rental market well and can compare your property with others like it that have a proven rental history.
Advertise, and Advertise now. If you want to capture those tenants who are willing to book the property early, your property must be advertised now. Nowadays internet advertising is a must, especially since many prospective renters who vacation on LBI are from out of the area and may not be able visit the property before renting it. I advertise my rental listings on my own website,
www.YourLBIRealEstateSource.com where each rental listing has its own webpage and downloadable brochure. Through my site my rental listings are syndicated to numerous real estate search engines and on-line classifieds like Yahoo Classifieds, Craig's list and Google base. My rental listings are also advertised on my company's website
www.DianeTurton.com.
Clean Up. Make sure that your property is clean and orderly. People looking for a rental are going to be seeing your property now and comparing it to other properties. Make sure the property looks its best, floors, rugs and walls should be clean, walls repainted if necessary.
For more tips about renting your investment property visit me at www.YourLBIRealEstateSource.com and click the Rental Owners Toolbox. Or contact me at LauraDunlap@YourLBIRealEstateSource.com.
If you are planning on renting your property on Long Beach Island for the 2009 summer season, contact me today. I have considerable experience assisting home owners rent their properties and I will assist you with all of the details. Thinking of buying an investment property? Now is a great time, there are a lot of properties available and interest rates are low. I can help you find the best investment property and support you by helping you get your property rented. And if you buy now you can have your property ready to rent next season.
Contact me directly at 609-290-7686 or by email at LauraDunlap@YourLBIRealEstateSource.com