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Archive for the ‘Leasing’ Category

Rent Versus Buy

J. Andrew English J. Andrew English
Monday, January 10th, 2011

Are rents sincerely on the rise? The answer is that it really depends on where you are and what you are considering renting. I have yet to see any real evidence that SFR residences are renting at higher monthly rates than this time last year.  On the flip side, apartment rents do appear to be rising in select markets and this eventually could be good news for the market as a whole. However, lets look at this more realistically. When you read or hear about the cost of renting verus buying, consider that the cost of buying is decreasing as values continue to drop.  Thus, in markets like Southern California where values have dropped upwards of 40%, the cost of buying has dropped substantially. As a result, even if rents drop in 2011 in Southern California, there is no guarantee the cost of buying still may not be cheaper than renting. Thus, if you utilize a “buy versus rent calculator”, factor in potential market appreciation or depreciation to more accurately distinguish between the two.

Listing your property for Lease

J. Andrew English J. Andrew English
Friday, November 21st, 2008

Almost all MLS’s across the country have a for sale section and for lease section of the MLS. These areas are two completely different searchable databases. An agent with a potential buyer will obviously search the for sale area of the MLS. On the other hand, tenant brokers will scour the for lease section of the MLS. The lease section of the MLS is a powerful tool for owners looking to cash flow a property. I can almost assure you that you will have greater success in locating a tenant through the lease area of the MLS than posting newspaper ads, signs, etc.. The lease area of the MLS works in the same fashion as the for sale area. The only difference is that the lease area will disclose to the tenant broker certain deposits that are required, restrictions of use, (such as smoking) etc… Commissions are paid in a similar style as well. For example, a property owner can pay the tenant broker a flat fee amount or a % of the gross lease. This amount will differ and can depend upon the length of the lease as well as the amount. Everything else in the listing is the same. The listing will transfer to Realtor.com, Craigslist, etc.. still have photos, marketing remarks,  and so forth. Placing your property for lease in the MLS is just another way you utilize Congress Realty’s listing service to help save money.