Rental Property
The Key to Success With Rental Property – Keeping it Rented
By Buyincomeproperty.com
Nov 3, 2005, 17:33

Rental property is a great source of income. It comes with a unique set of circumstances but arguably it is a sound investment. There are a few key ways to avoid owning rental property that remains vacant for any length of time. A rental property investment may seem at first a daunting experience. In the long run you will discover the care and consideration isn’t completely time consuming.

Listing rental property with real estate offices is an option most landlords embrace. When you list rental property with your condominium association or a local realtor you are handing over the headache of wading through countless potential renters. You may feel when you list rental property you are essentially handing over your power. In the long run most people would say it is worth the compromise.  

When you decide to list rental property your power of choice lays solely in the real estate agency you allow representation of your property. With that said, you must choose representation wisely. The whole ideal behind the decision to list rental property is to let the professionals do their job.

Rental property is only a potential source of income. It can be very profitable if the property is leased in large increments of time. Eliminate the cost of clean up and repairs needed between rentals by striving for longer leases. Twelve to eighteen month leases should be mandatory with severe enough penalties to keep the renters in place.

Rental agreements are vastly important. Once you have decided to list rental property and have chosen a reputable real estate office to advertise rental property on your behalf you are well on your way to a successful and profitable endeavor. Any real estate office that represents you and your property should allow you to preview the agreement that will be signed by both you and the renters.

In some areas such as Orlando or San Diego there is an opportunity to choose a rental property investment in hopes you will earn profit by advertising as a vacation rental property. In that case renting by the week or month is far more profitable. You should always consider the option to list vacation rental property. As a vacation hot spot you can advertise rental property easily as vacation rentals.

Vacation rental property can be an even greater source of profitable income but you must to take into account the cost of cleaning the entire apartment or home between each renter. There are cleaning companies that will contact you once you list rental property or advertise rental property. If you want renters coming back or spreading the word of how well kept your property is, it is strongly suggested you have one of these cleaning companies perform their magic between each renter.

If you are a veteran at the rental property investment end of vacation rental property there will be ebbs and flows to the peak seasons in most regions. You may have to make adjustments in price and lengths of leases in order to accommodate every facet of the area. If you need to advertise rental property there should be a good deal of consideration for the advertisement medium. Advertising rental property is not the kiss of death it is simply one more way to get the word out about your prime rental property investment.