I meet people who need to move every day! Kids, job changes and relationship changes top the list of deciding factors. Once people come to terms with the move, they are left with two primary options: SELL or RENT.
Selling, in this market, is straightforward; you prep, stage, list and you’re good to go. Renting can be more complicated and here are some things to consider:
Should you rent furnished or unfurnished?
- Furnished rentals do typically net higher monthly rates but are usually short term rentals so this requires more management and more attention from you, the Landlord. Your condo docs may also prohibit short term leases. There is also the inevitable wear and tear on your furnishings so be prepared. In addition, a tenant will be looking for cable and wireless internet so you need to add that to your monthlies.
If you decide to rent unfurnished, keep the following in mind:
- If you plan to live far away, consider having a management company in charge of your property.
- If you are going to be close by, have a list of contractors at an arms-length so you or your tenant can call necessary technicians for fixes.
- Leave an extra key with someone you trust.
- If you decide to come back to living in the property or sell it, you will have to paint and possibly more…