The Five Ways To Appraise, Market and Rent Out Your Property in Record Time

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Landlords and Property Owners

Otobele Akpesiri Rooney On February 18, 2022

The Five Ways To Appraise, Market and Rent Out Your Property in Record Time

February 18, 2022

Here are five key steps to value, market, and successfully rent out your property the right way and in record time.

  1. Property Appraisal
  2. House Listing
  3. House Viewing
  4. Renting and Leasing     
  5. Tenant and Property Management


Becoming a landlord/landlady isn’t a small fit and so is successfully renting out your apartment to tenants. Building/Acquiring the property is only 50% of the task.

As we all know, renting out your house comes with its responsibilities and challenges, especially with the fact that being a landlord may not be your full-time job.

Yet, there are plenty of responsibilities to be taken care of that require full-time attention to be successful. For example, appraising your property, marketing, and listing vacancies, getting good tenants and undertaking due diligence, tracking rent payments, addressing issues, maintaining your property, dealing with tenant eviction, and a host of other responsibilities under your belt.

But this shouldn’t scare you. More than ever people are renting and the returns from your properties on many occasions are worth the stress and challenge you experience as a landlord.

Another consolidating news is the fact that rents are presently on the rise across the country with landlords now knowing the value of their properties.

Also, with the right understanding, planning, preventive measures, and strategies in place, renting out your property can be a very rewarding endeavor.


1. HOW TO DETERMINE THE BEST VALUE (RENT) FOR YOUR PROPERTY  

Once your property is rent-ready, the first thing you need to do is to settle on a rental rate.

This in itself can be challenging considering the number of factors that regulate rent prices.

Therefore, it is important you properly gauge the rent value of your property and determine its fair market price before listing your property.

This is where property appraisal comes in.

Since the market rent can vary greatly from city to city, to determine fair market rent for your property, you must consider what other landlords in your area are charging and the value of your property.

These two factors are the key determinant factors for your rent prices regardless of your location or personality.

To appraise your property according to the market value of the area you live in, you can look at properties that are similar to yours on RENTERS VINE to easily compare your rent with other local properties.

If your property has amenities and utilities other properties in your environment do not, you can charge a slightly higher rent than others.

Understanding this is very important to your success as the right rent prices can make the difference between your success or failure as a property owner.

Here are some strategies to determine fair market rent

  • Ask local housing agents
  • Sign Up to Renters Vine and browse online to see the prices of properties in your neighborhood.
  • Talk to other landlords

Sign up, view properties close to you and List your property to get access to our marketplace of quality and verified tenants searching for accommodation around your neighborhood and begin getting paid for your property. Sign Up for free Here ...


READ ON >>> HOW TO LIST AND MARKET YOUR PROPERTY


Renters Vine focuses on empowering Renters with the information and resources they need to make better-informed rental property decisions. By combining hundreds of thousands of property listings with market data, local information, and community tools, we are the grapevine that meets all rental property market needs. Sign Up Here ...