Upon completing the “legal” legwork and “make ready” process for your San Diego rental home, now is the time to look for the ideal resident. To make this happen, you must determine the rental rate for your property, along with where and how you are going to advertise your property.
To determine your rental rate, look at Craigslist or other local listings for the rates of similar properties. The classifieds sections of local news websites can be a reference, too. Using online vendors such as Rent Range is another alternative resource, or you could contact us for a free rental property assessment. Keep in mind that what you initially anticipate your home’s worth to be (what will cover the mortgage, etc.) is often different from what the market rent is.
When determining the security deposit, ensure that you check state statute about maximum amounts as there may be a limit on the security deposit you can charge. Determining the market rental rate and the appropriate deposit amount will likely consume around 1 hour of your time.
Once the market rent and security deposit amount are determined, go ahead and advertise your property for rent. Taking photos is a must, but you must ensure that you take the right shots. Take note that you are trying to persuade a tenant to live in your San Diego rental home. So dim, ambiguous, or badly centered (sideways, upside down) photos will not put your best foot forward. In capturing bathroom photos, for example, close the toilet seat at all times. Also, you must not be seen in any photo like a “ghost” in the mirror.
When it comes to bedrooms, if a good natural light source from a large window is available, take photos with your back facing the window. As a result, you can get well-lit photographs of the room. Never forget that a bedroom is not just a window and a closet. So make sure that your pictures show the whole bedroom. Your photographs must increase potential residents’ interest, enticing them to want more information. Use photo editing software to adjust your pictures accordingly. Taking high-quality, well-lit photos and editing will require around four hours.
Coming up with an advertisement that speaks to the prospective tenants is the next step. Your advertisement should not talk about “who” you want to live in your San Diego rental home. Rather, advertise the home and its amenities. Also, jot down a list of appliances and utilities, including restrictions and special neighborhood rules. While Craigslist remains widely used in rental advertisements, consider paid advertisements in local sources or online if your home is not getting requests for showings or applications. Budget around 1 hour to write your advertisement and advertise it online. Paid advertisement ranges from $35 and up.
Finally, you should place a “for rent” sign at the home according to your neighborhood’s restrictions. If you live in a common interest community, there may be conditions with regard to sign type and placement. Some common interest communities require a post sign like those used by realtors. Obtaining and putting up a “for rent sign” will require around one to two hours of your time. There are many cost-effective rental signs. However, a post sign is between $75 and up.
Advertising your home for rent properly can pay off with possibly getting the rental rate you wish to achieve, and even the possibility of a tenant that treats the home not like a rental, but truly a place to be proud of.
Realevate Specialists can provide a free assessment of your rental property. Please contact us for more information.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.