How to determine the right rental fee

Rental FeeYou have decided to rent out one of your properties but you cannot decide what the rental fee will be because you have no experience in being a landlord. If that is your case have no worries because we will present to you the factors by which you should decide what the rent of your property should be.

The first and foremost factor that determines the rental value of a property is its desirability. A well maintained rental unit is much more sought than a badly maintained rental unit. So the state of your property is the first factor that you should consider when it comes to the rental fee.

The next factor that you should consider is the prices of your competitors. Check various rental websites and newspaper adds to learn what is the approximate rental fee for a property like yours. This way you will get a better idea about the rental value of your property and won’t make the mistake of asking too much or too low.

The location of your property is another factor that affects gravely the rental value of your rental unit. For example if your property is located in a good neighbourhood you will be able to ask a higher rent than the average. On the other hand if your property is situated in a bad neighbourhood you will have no choice than to ask a lower rent than the average.

Next you must compare the incentive that you are offering to the incentives that the other landlords in your area are offering. For instance if the other landlords are offering incentives such as free cable television or internet and you are not you cannot demand the same rental fee as them. Alternatively is you are offering more incentives them your competitors you can slightly elevate your rental fee.

The terms of the tenancy agreement also affect the price of a rental unit. For example if your tenant is going to pay for the moving in and end of tenancy cleaning you can reduce the rental fee or ask him to hire professionals like Cleaners Surbiton, because you won’t have the invest any money in pre and post tenancy cleaning services. So when you are negotiating with a potential tenant always be flexible about the rental fee that you are asking.

The last factor that you should consider is the interest towards your property. The more people are interested into renting your property the higher fee you can ask and vice versa

How to make a rental unit more desirable

Today we will present to you several tips with which you can make your rental unit more desirable and therefore rent it more quickly.

Desirable rentalsThe first and more effective way to make a rental unit appear fresher is to repaint the walls. Simply apply a fresh layer of paint and see how the curb appeal of your rental unit will increase instantly. However don’t use any bright, vibrant or dark colours. Instead opt for neutral colours such as white, grey, beige and etc. You must use neutral colours because people respond to such colours better.

Next replace the old switch plates, door knobs and cabinet handles with new ones. This simple remodelling will make your rental unit appear more sophisticated and will give a more contemporary overall feeling to your property.

Remove all memorabilia from your property because potential tenants will want to be able to imagine themselves living in your property and the presence of memorabilia will disrupt them. However you can leave some painting on the walls just to make the rental unit feel cosier and more welcoming.

The fact that you have taken care of the interior of property doesn’t mean that you have made your rental unit more appealing. The outside of your property will be the first thing that the potential tenants will see. This means that you must refresh the façade and mow the lawn in order to make a good first impression. Also remove all oil, gas and tire stains and marks from your driveway. If you have a backyard make sure that you clean and put it in order before you commence the visitations.   

The last thing that you must do before you start the visitation is to clean the rental unit from top to bottom. You can either clean the property on your own or hire a professional cleaning company like Carpet Cleaning Acton that provides pre and end of tenancy cleaning services. If you opt for the latter don’t worry about the cleaning fee because nowadays lots of cleaning firms work with affordable prices.

Once your property is cleaned you can begin inviting the potential tenants for visitations. During the visitations don’t be timid and commence discussing the tenancy terms with the candidates. This way you will show them your property and conduct the interviews at the same time.

If you do the things that we listed we promise you that you will rent out your rental unit much more quickly than you have anticipated.

Hotel rooms vs Vacation House rentals

Hotel roomsLots a people struggle with the decision whether to book a hotel room or to rent a vacation house when they are about to go on a vacation. This is why we have decided to present to you the pros and cons of both so that you can make an educated decision on which approach suits your budget and needs best.

Hotel room:

The main advantage of booking a hotel room is that you will be served during your stay. This means that you won’t do any cleaning, cooking, washing and etc. Another advantage is that you will have a knowledgeable hotel staff to ask about the interesting locations, getting directions, learning which restaurants are good and which aren’t and so on. The third advantage of opting for a hotel is that you will be able to benefit from numerous incentives such as spa procedures, gym, swimming pool, and game rooms.

The biggest disadvantage of booking a hotel room is the fact that you will share an entire edifice with other people, who may bother your calm and prevent you from resting and relaxing. Also when it comes to hotel rooms versus rental homes the price of hotel rooms is at the losing side because of the fact that rental homes are much more affordable.

Rental homes:

As you are already guessing the main advantage of rental homes is the price. Rental homes are provided at cost effective prices which is very important especially if you are traveling on a tight budget. The second pro of renting a home is the fact that you will be the sole tenants and therefore won’t have to worry about other people. Another advantage of renting a vacation home is that you will be able to do your own cooking and therefore save some money due to the fact that you won’t eat at a restaurant three times a day. The last advantage that rental homes have over hotel rooms is that they are much more comfortable when it comes to family vacations.

The downside of renting a vacation home is that you will have a tenancy agreement which you will have to follow to the letter or you may lose your security deposit. This means that you will have to clean the property and more importantly conduct an end of tenancy cleaning once your vacation is over we best advice you to hire professionals like Cleaning Services Chelsea for this job.

Now that you know the pros and cons of both accommodations you can indeed make a decision that suits best your vacation plans.