If you own rental properties, you’ve got to hear about this latest concept: Rent Auctions.
Typically, you check comparable rental units in the area, check market reports and do your best job at setting the price of rent in your rental units. Right? Then, you advertise the rental unit for the price that you think is the most accurate rate. Consider this though. One South African start up company began a rental listing and management service. Instead of just declaring the rent, landlords have the option t o allow potential tenants to bid on the opportunity to rent a space.
Obviously, you set a reserve rent. That way you don’t have to risk being forced to rent a property out for a few hundred bucks. Plus, as part of this service, renters are pre-screened for the landlords as soon as they sign up. The idea is that the resulting rent will be the actual, true market rent. It won’t simply be your best guess.
This idea seems to be incredibly popular and might soon replace the old way of doing things. Imagine if you knew that every time you rented out a unit you were getting the actual best rent possible?!
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.