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Mansion Spotlight

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Staging a Rental? 14 Apartment Staging Tips You Need to Read

11 June 2024

Are you a property manager looking to attract future residents, or a private owner aiming to showcase your rental online? The secret to success is apartment staging. Transforming your space into a welcoming and visually appealing environment can make all the difference in capturing potential tenants’ attention.  In this Redfin article, we’ll delve into expert apartment staging tips and rental staging techniques to help you shine in the competitive rental market, whether you’re in bustling cities like New York and Los Angeles or thriving rental markets such as Austin and Seattle. Let’s get started.  1. Curb appeal matters Curb appeal isn’t just for homeowners; it’s equally vital when staging a rental property. Before potential tenants even step inside your rental property, they’ll form their first impression based on its exterior.  Whether it’s refreshing the paint on the front door, adding potted plants to the entryway, or ensuring the walkway is clean and well-lit, small enhancements to the property’s exterior can make a significant difference. Remember, the goal is to make prospective renters envision themselves coming home to that space every day. 2. Start with a clean slate Before staging, ensure your rental is spotless. Clean every nook and cranny, including carpets, windows, and appliances. A clean space feels more inviting and allows potential tenants to envision themselves living there. Expert tip: ”To successfully stage your rental home or apartment, the first step is organizing and decluttering your belongings,” shares professionals Cut the Clutter RVA. “It’s essential to edit your possessions. This means assessing what you actually use and removing items that no longer serve a purpose – a critical step, particularly in smaller spaces prone to clutter. A well-organized and clutter-free environment creates the illusion of more space and enhances the appeal of your rental property to potential tenants.”
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How Much Should I Charge for Rent? A Landlords’ Guide to Determining Rental Rates

11 June 2024

Determining the right rental price for a property can be a challenging task for landlords and property managers. It’s crucial to find a balance that ensures profitability while remaining competitive and fair in the market. From a comparative market analysis to consulting with your real estate agent, this Redfin guide has everything you need to know about determining rental rates.  So whether you’re renting out a house in a Savannah, GA, or are booking that short-term desert oasis in Joshua Tree, CA, keep reading to learn more. Conduct a Comparative Market Analysis (CMAs) Like setting the list price on a property, rental rates are determined by running a Comparative Market Analysis (or a CMA). A CMA involves comparing a subject property to one or more similar properties.  Key comparative characteristics include, but are not limited to: Property year Location  Square footage and lot size Number of bedrooms and bathrooms Property features and finishes By examining similar properties, particularly their square footage, number of rooms, and location, you can establish a benchmark for pricing. Also, consider the condition and age of these properties, as they play a significant role in setting rental rates. While Redfin offers a diverse range of rental listings, it’s important to consider that not all properties are listed on traditional platforms like your local multiple listing service. Kenneth Ott, real estate buyer for Shark Fin Properties, advises also exploring alternative sites like Craigslist, where owners often directly list their rentals.
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Apartment Spring Cleaning Checklist: Refresh Your Space for a Fresh Start

11 June 2024

With spring right around the corner, it’s common for people to start thinking about spring cleaning. It can be hard to figure out what to keep, what to throw away, or where to even begin. With so much to do, spring cleaning can quickly become overwhelming. Thankfully, you can rely on this apartment spring cleaning checklist from Redfin to get your space right.  Whether you’re trying to clean up your apartment in Tacoma, WA or just started renting a house in Milwaukee and want to figure out how to keep your space spotless and organized, we asked professionals for their insights on all the boxes you need to check to make it happen. Before you start Before you begin your apartment cleaning journey, it’s important to prep the area and consider your game plan. Professional cleaner Guldeste Tursunbaeva of Superb Maids Charlotte, says “Before you start, open all the blinds and curtains and open the windows to let the fresh air and light in. It allows you to see everything better and airs out the space.”  Brad and Amanda Jones of Little Layla’s Housekeepers also note that a good rule of thumb is to start from top to bottom when cleaning your apartment, such as starting with countertops before moving on to the floor.  1. Bedroom As you usher in the spring season, start with your bedroom. Change and wash your bedsheets, flip and rotate the mattress for even wear, and vacuum underneath the bed to eliminate dust. Take the time to dust all surfaces, wipe down furniture with a damp cloth, and ensure mirrors and windows sparkle for a brighter atmosphere. Don’t forget to declutter and organize your closet, making space for the upcoming season’s wardrobe. “Rid your bedroom of dust by using a duster for maximum dust collection on all surfaces, including ceiling fan blades, baseboards, and behind furniture,” says Superb Maids Miami. “This ensures a thorough clean, promoting a fresher and healthier space for restful nights.” “If you have pets that sleep in the bed with you, consider using a flat sheet on top of your comforter,” adds Kelly from Happy House Cleaning, a Madison, WI based cleaning company. These are easier to throw in with a load of laundry and won’t require you to remove the duvet.  2. Living Room Bring a breath of fresh air into your living space by focusing on key areas. Begin by vacuuming upholstery and spot-treating any stains on furniture. Dust and polish wooden surfaces, rotating and fluffing cushions for a renewed appearance. Wipe down your electronics, organize cords, and clean remote controls as you go. Lastly, refresh your windows and curtains—wash or dry-clean curtains–and ensure windows are crystal clear for an unobstructed view.  “Infuse your living space with radiant energy by strategically rearranging furniture to optimize natural light exposure,” recommends Rafael from Onix Cleaning Services. “Swap heavy drapes for sheer curtains, allowing sunlight to dance freely, while integrating mirrors strategically to amplify brightness and create an uplifting ambiance.”
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How to Become a Landlord: A 16-Step Beginner’s Guide

13 February 2024

1. Make sure you can lease property in the area If you already own a home in the area and are debating whether to rent or sell your home, it’s important to check whether you can lease your property. Many houses sit in a community governed by a homeowner’s association (HOA). HOAs often restrict the number of rental properties in a community, how long tenants can stay, and how many tenant turnovers are allowed in a calendar year. They can also enforce specific terms of the lease. Make this the first thing you check when considering rental homes in areas within an HOA.  If you’re looking to invest in a rental property, then make sure you consider potential HOA rules in your home search. However, if the home you plan to rent out is located in an area without HOA rules, you’ll likely have an easier time establishing the house as a rental. 2. Find and buy your rental property Are you considering a single-family home, condo, townhouse, or something else? Each typeof property has its own regulations, maintenance demands, repair risks, and profit potential. If you become a landlord, you’ll probably finance your purchase differently than you would if you were buying it as your primary residence. Mortgage lenders often require a larger down payment for a rental property since they see a loan with a higher risk of default. Depending on the market and lender, you may need a 15%, 20%, or 25% down payment to purchase the rental property. Some people choose to create a limited liability company (LLC) for their rental business. This can separate their assets and reduce risk. LLCs are considered “pass-through” entities, meaning LLC members can claim their profits and losses on their tax returns. It can help to understand the three property classes before considering specific homes. Each can affect a landlord’s decision differently. They’re easy to remember: A, B, and C. Class A Class A properties are generally newer properties built within the last 15 years. Its design and features tend to be more modern. It could have granite countertops, in-style kitchen cabinets, or newer appliances. For these reasons, Class A properties usually have lower vacancy rates and are often professionally managed. Many Class A properties can demand higher rents and require less maintenance, at least in the short term. But they’ll also cost more to purchase upfront. Class B Class B properties are a little older than Class A properties. Their average rental income isn’t usually as high as that of Class A, and there could be a higher risk of maintenance issues. Many buyers see Class B properties as “value-add” investment opportunities because you can upgrade them and charge higher rent. They can be lucrative for buyers, especially if they have good contractor connections or know how to renovate homes themselves. Class C Class C properties are usually more than 20 years old. These properties are more likely to need updates or repairs to keep everything up to code, or in line with newer properties in the area. On average, they may rent for less than Class A or B properties. They may also require a little more budget space for future repairs.