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I am in the los angeles area and I am planning to put my house up for rental. I was wondering what is the best way to go about this? I have a handy man on call and I am not planning to use a property management company. I talked to an agent and he said to list it on the MLS, it would cost 3-6% of the 1st years rent. Any feedback or opinion is appreciated.
I am in the los angeles area and I am planning to put my house up for rental. I was wondering what is the best way to go about this? I have a handy man on call and I am not planning to use a property management company. I talked to an agent and he said to list it on the MLS, it would cost 3-6% of the 1st years rent. Any feedback or opinion is appreciated.
You can have the agent list it and the home will be shown by agents, and you'll get it rented in the normal time for your market, and the agents will negotiate and complete the lease agreement.
You can list it on Craigslist and field all the calls and show the home yourself, and negotiate the lease yourself.
There may be other ways to market for rentals, but those two are the biggest sources.
If you're comfortable with the Craigslist method, then you'll save the commission. It will probably be 6% because it is more than likely that the renter will have their own agent, so the 6% you mentioned would be split between the two agents.
I am in the los angeles area and I am planning to put my house up for rental. I was wondering what is the best way to go about this?
When I had rental properties I used to put ads in the newspapers. Nowadays, I'd use craigslist (watch out for the crackpots and scammers) or other online resources. Putting old-fashioned paper notices on local store bulletin boards might work, too.
Better check to see if your property is in an area that has rent control. You will want to understand the law concerning your house before you do anything else. If it is in a rent control area, it is almost impossible to get a tenant out, so you will want to be very careful with your screening.
Better check to see if your property is in an area that has rent control. You will want to understand the law concerning your house before you do anything else. If it is in a rent control area, it is almost impossible to get a tenant out, so you will want to be very careful with your screening.
Wouldn't you, as the owner...want to do that regardless if a realtor is the agent.
Or, does the realtor assume those responsibilities and costs under their contract....etc if say...they rent to a person that doesn't pay their rent or has to be evicted? So, does the 3-6% replace a property manager?
I am in the los angeles area and I am planning to put my house up for rental. I was wondering what is the best way to go about this? I have a handy man on call and I am not planning to use a property management company. I talked to an agent and he said to list it on the MLS, it would cost 3-6% of the 1st years rent. Any feedback or opinion is appreciated.
We have property management companies here that will just do the tenant search for you, then you take over regular management after that. I suggest you find a company that offers that down there.
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