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Am I Making This Look Too Easy?

By
Real Estate Broker/Owner with Dawn Brenengen - Trailwood Realty 202789

I just rented this great house in Midtown Raleigh for $2700/month.  I initially met with the owners two months ago who were just finishing up construction on their new home.  They were a referral from another great client.  They gave me the grand tour of their beautiful home, asked questions about what it's like to be a landlord, and told me they would think it over.  The wife was not totally on board with the idea of renting their family home, and they decided to concurrently list it for sale and rent.

I gave them my professional opinion on rents in the area and advised them to list for $2500/month.  They asked to try for a little more, and I agreed since there was not much else on the market.  I took some pictures, uploaded the listing, and took a few calls on the home.  I showed it the first weekend to a family who was new to the area.  They loved it, and knew our rental market was hot.  They didn't waste any time, and they put in the application the same day.  They are an awesome family with great credit, great jobs, and they are also super nice, which really makes my job a lot more pleasant.  They just moved in, taking possession of the home as soon as it was available.

The owner just asked me, "do you always rent to the first person who sees the house?"  Well, no.  It usually takes a few showings, and lots of fielding phone calls and emails.  This house was particularly easy because the owners took great care of it.  It showed very well.  It's in a great location, and it has a fantastic yard.  I wish they were ALL this easy, and I think other rental property owners could do well by making sure their homes are cared for and look top-notch!

Midtown Raleigh Home

 

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Dawn Brenengen

Broker/Owner of Trailwood Realty, LLC

Buy. Sell. Invest.

 

Comments(2)

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Nora Sims
Northern Shadows Realty, Inc. - Sedona, AZ
helping folks like you since 1978!

Hi Dawn;

It was interesting to read your post because in our market, most agents do not handle rentals inquiries. 

I'm curious, is there a fee schedule for this service?

 

Aug 07, 2014 06:11 AM
Dawn Brenengen
Dawn Brenengen - Trailwood Realty - Raleigh, NC
Sales and Management

Hi Nora Sims !

I do property management as well as sales.  Different companies charge various fees, but mine mostly break down to 1/2 month rent to find a renter and 8% monthly management fee.  So, in the case above, I would make $1350 at the beginning and then $213 each month for the next year.

On the flip side, if you are an agent helping a rented find a home, you don't make much in my market.  It's often $100-200, so most agents won't do it.  The ones who do are typically hoping that tenant will become a buyer at some point.

Aug 07, 2014 09:28 AM