12 Must Haves Before Listing Your Condo for Rent - Your New Home Team with Remax Premier

12 Must Haves Before
Listing Your Condo for Rent

Here are a few TIPS that we recommend before RENTING your condo

1. Hire an Agent That Understands

  • Does your agent understand renting?
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    What do they though about condo rentals?
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    This is the single best decision you can make!

2. Know Your Market

  • What is renting, for how much, and how fast?
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    What condition are the condos in that are renting and compare
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    Ask us for a Condo Community Report that shows all of the above so you have an understanding of what to expect. Also ask us for a Net Sheet if you would like to know how much you can net from the rent of your condo - discover your bottom line.

3. Know Your Target

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    We will work with you to outline the Target Audience so we can have more effective marketing that reaches the right people with the right highlights!
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    Who buys homes in the area? For examples, are you close to a University, parks, metro, town center, etc. Each of these is a unique and potential target market of people that can be tailored towards.
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    What is important to the target audience when it comes to condo living?

4. Resolve Repairs & Issues

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    Make sure you do a walk through to ensure there are not issues that can be a big headache or a potential contract canceling/loss.Repair and update
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    Repair and update
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    Remember that certain things when told to an agent will need to be “communicated” especially things like mold issues etc. that may impact the health of the new owners.

5. Decide on Updates/Upgrades

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    We can do a walk through and discuss what makes sense to upgrade/update and what you can expect as an ROI
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    Ask us about an ROI report on what to update/upgrade.

6. Furnishing & Staging Your Unit

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    Decluttering and staging your unit to help the Target Market see the lifestyle it offers.
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    This of course will depend on what kind of a sale you are looking for.
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    Regular sale, short sale, foreclosure, Bank owned sale or Financial struggles that need Cash sale etc will all require different approach to marketing.
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    We have Cash Buyers /Investors! Remember that they are looking for a DEAL so don’t expect market value if you are looking for a cash sale especially if the property needs work.

7. Condo Association

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    Compliance with the condo association is needed!
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    Any updates, upgrades
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    Future or upcoming Condo repairs/fees with projects.

8. Insurance Update

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    If this is your first time renting – changing your homeowner insurance to ensure you are covered.
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    Requesting tenant purchase insurance?

9. Property Management

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    What are the options, costs, and services included.

10. Parking

12. Access Passes

12. Changing Locks

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