How To Maximize Your ROI

1. Staging - prepare your home to rent so it appeals to the most potential tenants who will pay the highest possible price. Relative to the amount of time and money involved, staging may be one of the most lucrative projects you ever undertake. The living room, kitchen, bathrooms, bedrooms, and outdoor living spaces are all important areas to focus on when staging your home.

Recommended home staging tips: 

1. Declutter, depersonalize, clean and remove all items (eg. soaps, personal photos/items, small appliances, dishes, fridge magnets, etc.) from countertops. 
2. White bed linens and sheets - make people think “hotel”, as they enter your home. Throw pillows can add some personal touch and make the space more inviting. Purchase fresh and matching neutral towels. White is always recommend so it’s easy to bleach and replace to match existing. 
3. Most importantly, get rid of any odors.

2. Professional Photos - hire a professional that will make your property shine! This shows a level of professionalism, and makes your property stand out from the crowd. It’s cost effective and best to do when your home is staged and no one is living in the property. 

3. Competitive Pricing - The market is saturated with rental units. Always ensure you are listed at, or just slightly below, current market rates. This will not only attract the best possible tenants, but prevent vacancy gaps that can cost you much more than 50$ per month with competitive pricing. Good tenants don’t overpay for properties because they know they will be attractive to any homeowner. Contact an agent who is an expert in the field to give you the inside scoop of market trends and pricing. 

4. Flexible Terms - The more flexible you can be, the better! Allowing for both short (1 month) and long term (one year plus) leases increase the amount of interest you will have. With all the uncertainty in today's market, some tenants want to commit to as little as possible and have the option to extend. Tenants who have been displaced due to construction, home renovations, or insurance claims want to ensure they are not paying beyond the expected date they can return to their unit. Be open as sometimes they end up being the most lucrative guests. If you can allow for pets, do it! There is more domestic travel now, and that means more families with furry little friends are looking for a home. It’s best to always be open, and depending on the type, size, and amount, determine then if it would be a good fit. They often offer a pet security deposit that can put your mind at ease. 

5. Hire a Professional - as in anything in life, let the people who do this day in and day out take all the pressures off listing. Everyone is busy, and answering calls, emails and texts when you're trying to live your best life can be time consuming and distracting. Good tenants can be lost if not responded to in time, so it’s best to hire someone who's dedicated to renting your property out for the most amount possible, without leaving you vacant. They have their finger on the pulse and can offer some excellent tips and additional exposure. 

You must spend money to make money.

- Plautus