Rental Basics in 18960>Question Details

Njbound, Real Estate Pro in 18960

I am considering renting my duplex. Never having been a landlord, i need advice. Where do I start?

Asked by Njbound, 18960 Mon Aug 1, 2011

Duplex is 3 bedroom, 1 1/2 bath home in Sellersville.

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4
If I am you I wouldn't do it myself for the very first time. I was in the same situation years back and I wasn't a Realtor at that time. I got a professional help and even after paying a month's rent worth of fee I saved lot of money and hassel of learning "new stuff". I also learned a lot at that time. Second time on, I knew exactly what I was doing. The process includes showing property, rental application, credit and background check, preparing and signing lease, handling deposit money etc. One month's rent is standard fees apart from some credit check fees ~$50. But trust me, it's well worth it for a first timer.
Web Reference: http://www.COOLhomesPA.com
0 votes Thank Flag Link Tue Dec 4, 2012
The rental market has improved. There are many people renting their homes because it is difficult to sell. You can get the local newspaper and see what homes are renting for , and advertise your home and try to rent it your self. When you find someone interested , make sure you take an application, check out their references and job , landlord and credit check, or get an attorney to help you.
or you can call local realtors. You can decide whether you want the agent to just find the tenant and draw up the lease or you want the company to also manage the property. Call three companies, ask them their experience in rentals and their fees. Tim and Michael have given you good advice.
Web Reference: http://www.gitabantwal.com
0 votes Thank Flag Link Wed Aug 3, 2011
Tim provides some good advice. I would also meet with landlords in Bucks County to discuss any questions you have. You can go to meetup.com and search for landlords/real estate investor groups in Bucks County.

I would seek advice as soon as possible becuase you want to get your place rented before the school year starts. Usually families rent 3 bedroom homes.
0 votes Thank Flag Link Tue Aug 2, 2011
Sellersville - interesting name. Sounds like a bad place for buyers. ha ha

I would call a couple Realtors or go to an office, or two, and speak to a couple and "pick their brains". This should help get you started. They should be able to explain what they do with a rental and perhaps give you an idea of a monthly price that is appropriate for the condo. You can use their service or list it for rent on the internet or with flyers etc. There will be pros and cons to each method and you will have to decide to let someone else rent it or do it yourself based on what you find out talking with Realtors. Good luck, finding a good renter can be difficult sometimes.
0 votes Thank Flag Link Mon Aug 1, 2011
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