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5 Tips for Getting Your Minneapolis Condo or Loft Rented Fast and for Top Dollar

By
Real Estate Agent with www.dannyrealestate.com

5 Tips for Getting Your Minneapolis Condo or Loft Rented Fast and for Top Dollar

The rental market in Minneapolis is hot right now with a vacancy rate of just 1.5% so it is a good time to maximize how much you can get for rent on your Minneapolis condo or loft. Despite the low vacancy rate there are still some tips that will ensure you get the most rental income.

1.) Treat the transaction the same as you would if it were for sale: Too often owners take a very different approach to preparing the home for rent than they would if it were for sale. Get it cleaned, de-clutter, touch up paint and stage it. If you want a high quality renter and one that may stay for more than a year make them not want to leave as soon as they walk in.

2.) Quality Photography: If you are renting out a Minneapolis condo and loft over $1,000 it is probably worth it to you and your Realtor (if you hired one) to spend the money on quality pictures. They will get you more interest and they can be used when you sell.

3.) Be Flexible: There are terms other than price and move in date that matter to a tenant. Leases are meant to protect both parties, but if the language in your lease is too harsh you might scare away perfectly good renters. Be reasonable.

4.) Make it easy to show: You might have a renter in there now that is getting ready to move or maybe you, the owner, is still living there. Either way the more accommodating you can be on getting tenants in for showings the better. Tenants move way faster than buyers so if they can't get into your until tomorrow they might put an application on something else today.

5.) Know the details: Is there a move in/move out free? How much is the application fee? What restrictions are there with your association? You don't want to have to go back and explain to a tenant 'oh, sorry, there is a $200 move in fee I also want you to pay.' These things can kill the deal.

Bonus Tip: Hire us! We specialize in the Minneapolis condo and loft market and understand as well as anyone the process needed to ensure a seamless transaction.

 

Comments (2)

Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

 

Good tips for property owners to get their homes rented fast.  Wising you much success for the New Year, all the best...

Jan 01, 2012 07:26 AM
Danny Dietl
www.dannyrealestate.com - Minneapolis, MN
Buy, Sell, Lease - iMetroProperty.com

Thanks Michele and all the best to you, too!

Jan 01, 2012 07:26 AM