Monday, 11 December 2017

How to Make the Process of Selling Your Rental Property Straightforward

Written by Posted On Wednesday, 04 October 2017 22:01

Investing in rental property is one of the most lucrative business opportunities today as it offers a steady flow of income for years. However, most rental property owners often struggle with finding tenants for their apartments and houses. Even when they do, the process of taking the tenant through the rental process becomes exhausting and emotionally draining. Here are some effective tips that you can utilize to simplify the sale of your property while saving time, energy, and resources.

Carry out Repairs in Advance

Do your rentals have any repairs that should be undertaken such as repairing, fixing furniture, or replacing fixtures? If so, you should consider taking care of the repairs before listing it on the market. When a tenant visits the property and finds that repairs are not done, they will make several returns until it is ready. Certain companies, like The Property Whiz, know that this will lead to a lot of time wastage, particularly if you have to be present for every visit. Additionally, it can cause you to lose potential clients if they find the house in a not-so-good condition. To avoid this, always repair before inviting a tenant to view the home.

List Property Online

Today, digital transformation in business is making it easy for property owners and real estate agents to make online sales. You can have a website which displays your apartments, with professionally taken pictures from all angles of the houses. Include photos of the interior space as well. Any potential clients can browse through the website at their own convenience and have a clear picture of the house before the physical visit. This will save you time and energy that would otherwise be spent when the client was seeing the apartment for the first time.

Compile Necessary Documents

The process of renting property involves the signing of rental agreements, contracts, and other related documents. Having these at hand can simplify the entire process and prevent delays. If there are any professionals such as attorneys required to foresee the process, you should have contacted them in advance as well. This will allow you and the tenant to sign and validate documents fast, and finalize the process without any hitches.

Hire a Real Estate Agent

If you find the entire process of handling the sale by yourself exhausting, it can be a good idea to hire an agent. Real estate agents are versed with the industry and have connections with related parties. For a small fee, you can sit back and let them find tenants and take them through the rental process, including signing the lease contract.

Rental property is a great investment, and it is only fair that the course of finding tenants go as smoothly and quickly as possible. Follow these tips to have a straightforward process from the moment you list the property on the market to the day of finalizing the sale.

Rate this item
(0 votes)
Rachelle Wilber

Rachelle Wilber is a former real estate agent now turned freelance writer that specializes in home realty, mortgage, and building. She graduated from San Diego State University with her Bachelor's Degree in Journalism and Media Studies.

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.