Tips for Finding a Malibu Rental

The California real estate market has something for everyone,whether you’re looking to buy Malibu bank owned homes or rent an apartment on the beach. Those interested in renting have many options,but it is important that renters research each listing thoroughly and make sure that they can live with the terms of any lease presented by a potential landlord. Follow these tips for making the rental process run as smoothly as possible.

Considerations

Before you even look at rental listings,sit down and make a list of all the features and amenities you must have in an apartment. If you hate carrying heavy baskets of laundry to the laundromat,look for an apartment that has a laundry room or a washer and dryer in the unit. If you plan to take a dog with you,make sure the apartment building has enough outdoor space for regular walks. If you have more than one vehicle,you need an apartment building with a large lot or assigned on-street parking spaces. Writing down what you want will help you find the best rental to meet your needs.

Research

Once you find several suitable Malibu real estate listings,make note of their locations and conduct research to find out as much as you can about the buildings and their owners. If an apartment building is owned by a large investment group or run by a property management company,you may be able to find online reviews. Read these reviews carefully and make note of any consistent problems. If only one person out of 100 reviewers has a complaint,it could be that the person is a bad tenant and was evicted from the building. If 75 people out of 100 have the same complaint,you might want to avoid renting in that particular building.

Building Tours

Once you narrow down your list of prospective Malibu beach homes,you must visit each of them to determine if they are right for you. Look in hallways,lobbies and other common areas to see if they are well-maintained. If they are dirty or in need of repair,the landlord may not take good care of the building’s apartment units either. Once you enter an apartment,note any damage to the walls,fixtures and furniture. Check the shower head,sink faucet,bathtub faucet and toilet to make sure they work properly. Make sure the refrigerator,stove,washer,dryer and any other provided appliances work properly. Once you have completed your tour of each building,you can use your notes to make a final decision.

Moving In

When you move into your new apartment,one of the first things you should do is take photos. These photos can help document damage that existed before you moved in so that you do not get charged for repairs or replacements. Make sure the photos are time-stamped and dated so you can prove when they were taken,if necessary. Keep these photos and your signed lease in a fireproof safe or a bank safe deposit box so that they are safe in case of fire,flood or other damage.

Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.

Rental properties can be an excellent source of income,but only if you are able to fill them with tenants. Landlords who do not know how to market their properties will have difficulty finding good tenants and may struggle to generate enough rental income to keep up with property taxes and maintenance costs. If you want to market one of your Malibu rentals,use these tips to make the process as painless as possible.

Determining How Much to Charge

You may not realize it,but the price you set for rent can help or hurt your marketing. If the price is too low,it could make potential tenants think that the property is in disrepair. If the price is too high,you will lose potential tenants to properties with rents that are more in line with your local market. One of the best ways to see what others are charging is by looking at the rental listings in your local newspaper. Look for ads for Malibu Point Dume homes that are similar to yours in size and available amenities. You can also look at real estate websites to get an idea of what other landlords are charging.

Lease Terms

Your lease terms also affect your marketing strategy in the Malibu real estate market. Although renters expect that they will not be able to make too many changes to a property,some landlords are now letting their tenants choose paint colors and flooring options. This makes the rental space more homey,which can keep tenants in place for longer periods. If you are very restrictive and do not allow tenants to make even basic changes,they may rent from someone who will allow a little more personalization. How long you are willing to rent is another consideration. Someone who just wants a short-term place to live will probably not consider an apartment or condo that comes with a two-year lease. Someone who is tired of moving around and wants to settle down might be put off by a six-month lease.

Staging

Home staging is no longer just for sellers. It is difficult for renters to picture themselves living in a property when there is no furniture and no personal touches. Staging the unit with some basic furniture,a vase of flowers and a few pictures can be just the thing you need to entice a new tenant to sign a lease.

Improvements

It is not easy to convince someone to rent a property when the fridge does not work and the carpet looks like it is worn right through to the floor below it. You have to decide which improvements you want to make,as making some basic repairs might be enough to successful market the property. Painting the walls,fixing flooring defects and repairing or replacing appliances is one way to make the property more marketable. It may not be worth it to make major repairs that cost a lot of money,as you may not be able to recoup those costs by renting the property.

Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.