Robert, Home Buyer in Bel-Aire, Largo, FL

How do I lease out a new condo that I have just bought?

Asked by Robert, Bel-Aire, Largo, FL Sun Aug 2, 2009

I've just bought a new 1-bedroom condo in the South Beach area of SF. I'm looking to rent the condo out. What is your advice to a new landlord like myself? What is the best way to rent it out? Do all leasing agents do property management too? What are the typical fees (e.g., % of rent) that property managers charge? Can you recommend any property manager that specializes in upmarket condo units in SF city? Thanks!

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7
Thu Aug 13, 2009
Place an add on craigslist.org or get an agent to lease it for you.
Web Reference:  http://www.gregorygarver.com
0 votes
David Tapper, Agent, Burlingame, CA
Fri Aug 7, 2009
I am not sure if you have made a decision regarding your newly bought condo. I can take care of finding a qualified tenant for you. I work with Cashin Company in San Mateo, doing mostly leasing. Check out my website http://www.faytherental queen

Looking forward to hearing from you.

Fay
0 votes
Robert, Home Buyer, Bel-Aire, Largo, FL
Tue Aug 4, 2009
Thank you guys for all of your replies. I will certainly look into some of your suggestions.
0 votes
Jeff Woo, Other Pro, San Francisco, CA
Mon Aug 3, 2009
I work with a lot of property managers and Jed Lane is a good one.

If by the term "leasing manager" you mean someone who will simply find you a qualified tenant, but does not manage the property, there are not very many. I have used with great success Jackie Tom. Her info can be found at http://www.rentalsinsf.com. She charges some less an a month's rent to get a qualified tenant in on a one year lease.

I assume your condo was built after 1979 and is thus not covered under the Rent Ordinance (at least for now Sup. Avalos has a bill to expand Rent Control to post -1979 building pending). Even in up market condos, property management is challenging and requires time. If you use a property manager, my experience it that they charge you a fee to manage and a fee to place a tenant.

Good luck.

Jeff Woo,Esq.
Sedgwick, Detert, Moran & Arnold LLP
Complex Rental Property Group
415-627-3607
jeff.woo@sdma.com
0 votes
Jeff Woo, Other Pro, San Francisco, CA
Mon Aug 3, 2009
I work with a lot of property managers and Jed Lane is a good one.

If by the term "leasing manager" you mean someone who will simply find you a qualified tenant, but does not manage the property, there are not very many. I have used with great success Jackie Tom. Her info can be found at http://www.rentalsinsf.com. She charges some less an a month's rent to get a qualified tenant in on a one year lease.

I assume your condo was built after 1979 and is thus not covered under the Rent Ordinance (at least for now Sup. Avalos has a bill to expand Rent Control to post -1979 building pending). Even in up market condos, property management is challenging and requires time. If you use a property manager, my experience it that they charge you a fee to manage and a fee to place a tenant.

Good luck.

Jeff Woo,Esq.
Sedgwick, Detert, Moran & Arnold LLP
Complex Rental Property Group
415-627-3607
jeff.woo@sdma.com
0 votes
Jed Lane, Agent, Petaluma, CA
Sun Aug 2, 2009
I have a property management company, Anchor Property Management. I charge either $250/month or 5% of the monthly rent whichever is greater.
If you are interested in what the management structure is and what is done for you contact me.
0 votes
David Tapper, Agent, Burlingame, CA
Sun Aug 2, 2009
Hi Robert, you can place an ad on Craig's list or hire an agent or property manager to help you. Usually the fee is between 5-7%.

If you only have one unit, I don't think you need a property manager, maybe just hire someone to help rent out your place who is going to check the tenants credit and background.

You might want to contact http://www.Faytherentalqueen. or Femarie@aol.com. She has helped a lot of my clients.

Cheers,

Tap
http://www.DavidTapper.com
415-370-7195
Web Reference:  http://TeamTapper.com
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