Profile picture for user712018

Point me in the right direction on renting out my condo

Hi Everyone,

Newbie here and I am starting to stressed a little bit knowing that I need to find renters for my condo by July 1st...hopefully. I live near the military bases here in Lakewood WA. I want to find a trusted agent who could help with this process. Should I look for this on base and work with military personnel agents? Not sure on where to start but I do know I rather work with an agent/property management to handle this than by myself. Any tips, suggestions would help tremendously. Thank you in advance. Regards, Josh 

  • May 14 2012 - McChord AFB
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Answers (5)

Profile picture for JimTrueblood
I would contact a local real estate agent that works in your area.  They should be able to help you list your property for rent as well as put you in contact with a reliable property management company. 
  • May 15 2012
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Profile picture for kassrose
I built my business around teaching investors, landlords and agents how to lease up properties quickly and efficiently.  After hundreds of transactions, I have built an a la carte system so you can learn how to do it yourself or hand it over completely.  All up to you!  We are here to compliment what you already know, help where you have questions and everything in between.  By the way, I have a personal rental coming on in Parkland, WA in the next few weeks, so I plan to learn more about the military housing too!  Maybe we could double up our efforts?  Here to help!  ~Kass
  • May 15 2012
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Josh,

Is this your first time doing this? If you get a hold of a lease contract, you can easily do it yourself. That and running potential tenants' credit should give you a good platform. As for marketing, a sign in the window along with a few ads online should do the trick. Rent.com is pretty good site along with the usuals like Craigslist. Feel free to message me if you have any more questions.

Derek
  • May 15 2012
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Profile picture for user712018
I appreciate the quick reply Eric! Thank you for the link, I will look for local agents in my area. I do like that idea on splitting those fees, I will see if that's something normal around here. 

I'm assuming you recommend I go with an agent then try and do this on my own? I was looking at a couple local property management sites and the fees do add up quite a bit. I am second guessing myself now if it's really worth paying the fees. Thanks again for your time and input!

-Josh  
  • May 14 2012
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Hi Josh,

Go to this page: 

http://www.realtor.com/realestateagents/Lakewood_WA/realtorType-Agent

It's a listing of all the realtors in your general vicinity.  Someone there should be able to assist you in renting your property.  Here in Massachusetts, there's a broker's fee of one month's rent.  Some owners make the tenants pay the full fee so you would not have to pay anything.  Further, the agent would do the background check and write up the lease.  Nice to not have to worry about that...

If I were an owner renting out the place, I would elect to split the fee with the tenant.  You guys are both getting a service and to me, it's more of a fair way to begin a relationship with someone that's going to be living in your property.  But the choice is up to you. 

I'm also speaking from an agent around Boston where the rental market is very competitive.  Perhaps in WA, the norm is for the owner to pay the full fee, I really don't know, you'll have to check with someone local...  I hope that answers your question.  Good luck w/ renting your condo!

Eric
  • May 14 2012
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