Home Buying in Palo Alto>Question Details

Zhang Jinrui,  in New York

how to rent my house with high price^?

Asked by Zhang Jinrui, New York Wed Aug 25, 2010

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Zmbrennan’s answer
Do you ultimately want to sell it?

Lease option tenants pay higher rent and generally look after the property in a more propriatery way.

Many individuals and families in the higher end income level are in need of this in the current market.

1 vote Thank Flag Link Mon Sep 20, 2010
Hello Zhang, here on Trulia is a new Rent section where you can post your home for rent. You may also want to advertise on Craigslist. In advance, go to various rental websites to see what other homes similar to yours (number of beds/baths and square footage) are renting for to get an idea of what yours might rent for.
1 vote Thank Flag Link Wed Aug 25, 2010
Dear Zhang: One technique of getting your dollar amount is to rent it to several tenants, rather than just one family. I've been in large homes that different parties rented bedrooms, they share kitchen, living room and family room. I'm talking about very large estates. If your only interest is in getting the dollar amount, then rent to many. This requires more contracts per person, and ideally one person takes some responsibility in managing them all, collects the rent for you, and is discounted or given more amentities. You will in most cases be renting to all adults, and unlikely to someone with children. You have to be flexible about move in and move out dates, as it may take time to lease to everyone. Be sure you have a good references and a good contract in place. Most parties will likely be short term tenants unless you define you want a one year lease. If you are overpriced in your lease, but determined to get that dollar value, simply you will have to work for it by renting to individuals or maybe couples. The more people, the higher use of utilities and more chance of damages. Your option is to go down below market and rent to one family, keeping it a little under market should keep it rented. Patricia 408-737-1695
0 votes Thank Flag Link Tue Sep 7, 2010
Hi Zhang.

A high end home on the market for rent needs to be treated as a high end product to fetch top dollar. I'm a big believer in product matching the price! When my team and I list high end homes for rent in Marin, I often hire a professional photographer for my clients, I design a website to showcase the home, and I use my network of top Realtors, executive clients and relocation agents to help the property get the exposure it deserves. I usually rent home in Marin in the $5k - $10k a month range. I am happy to help if you have more questions!
0 votes Thank Flag Link Tue Aug 31, 2010
Hello Zhang,

I just rented a house in Palo Alto for $4500, with a one year lease, and my recommendation would be to give it to a Realtor to do that. I put the house on MLS and on various other web site, including relocation companies. Several people applied, and as a result, the rental price was higher than the original asking price. Also, often, the tenants coming from other Realtors are of higher "quality" so to speak, because they are people who do not have the time to look for themselves, they are busy, - which means they can pay someone to do that for them. - hence the higher price. Let me know if I can help
Web Reference: http://www.frolland.com
0 votes Thank Flag Link Wed Aug 25, 2010
Try contacting http://www.Faytherentalqueen.com 650-455-6072.

Good luck,

0 votes Thank Flag Link Wed Aug 25, 2010
The best ways to increase the rental value are to either have a ver nice remodel, or allow 2 dogs. Renters appreciate updated homes a lot, but if your home is not already remodeled, the cost of doing so will not be recouped by the amount you can increase the rent. If that is the case then allowing a renter with 2 pets, especially dogs, will give you a good advantage because there are not a lot of landlords who allow that and tenants with pets will often pay high premiums.

Marcy Moyer
DRE 01191194
Web Reference: http://wwww.marcymoyer.com
0 votes Thank Flag Link Wed Aug 25, 2010
Generally speaking the market in your area will determine how much you will be able to rent your house for. If you live in an area or a neighborhood that has a lot of rentals find out what your competition is doing. If the house next door is similar to yours and its renting for $1000.00 per month unfurnished than you would be hard pressed to get $2000.00 per month.
0 votes Thank Flag Link Wed Aug 25, 2010
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