there are many ways to attract good renters, not necessarily mon

You are in a business and chasing top dollar is the key to become a successful businessman.

There are many ways to attract good renters, not necessarily money, especially for $3000 rent, the renter probably don't care the $75 difference that much. If your house can provide better accommodation, better lease terms, and you make them think you are a good and reasonable landlord, they probably will rent from you for market price or even slightly higher price if it's a hot market.

e.g. A lot of landlords just put a plain text ad on craigslist. Unlike them, I take good pictures and make HTML format ad., detailing every good feature of my property. Those things don't take me much time but they really make my ad stand out among the rest. On the term side, for property in very good area, I charge fair security deposit, normally less than others, because I am confident the renters with good credit won't damage my property. (In bad area the term would be different.)

One example that I rented my unit at top dollar but my neighbor didn't: my neighbor had one identical unit for rent couple of months after I rented my unit out, at 10% lower rent, but his unit stayed on the market for more than 2 months while I was able to rent out the same day the unit was vacated. Couple of mistakes he made: 1. $2000 security deposit, while I charged $600. The renters in that area are IT engineers and I am confident $600 is more than enough. 2. only washer/dryer hookup while I provided w/d units. Not many renters keep their own w/d units, so no w/d units is a big turn off. 3. No ad on craigslist, etc. He simply put a For Rent sign on the window, which really limited the visibility. I ran into the owner once and suggested him to put his ad on to craigslist, he didn't even know this website...

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• very helpful thank you for posting -vcvc- ♂ (0 bytes) () 07/18/2008 postreply 15:04:35

• thank you for your helpful advices! -MiHuPig- ♀ (111 bytes) () 07/18/2008 postreply 15:14:04