There are a lot of details involved in leasing a property, according to Julia “Margie” Stephens, a Realtor® and Leasing Specialist with Waterfront Realty Group, Inc. in Naples, Florida.

Every property is unique in their amenities and each association differs in their homeowner regulations. Therefore, Margie has made up a typical checklist of what you, the homeowner, can expect when leasing your property. This checklist is not meant to be all-inclusive.

If you’re considering leasing your property, please contact Agent Margie for a first-hand assessment.

Typical assessment:

  • Determine if homeowner is interested in renting for a seasonal or annual basis.
  • Rental rates differ for an annual rental or a seasonal rental.
  • Seasonal meaning December through April at 15% commission.
  • Annual meaning twelve consecutive months at 12% commission.
  • View your property to determine if anything needs to be repaired or updated.
  • Determine specifics, such as pet policy, utility policy, security deposit policy.
  • Determine the rental rate; compared to like properties in the area.
  • Review home watch service possibilities.
  • Sign rental listing agreement with homeowners.
  • Process and send Tourist Tax monies, as required, to State and County.
  • Conduct inventory audit; written and photo.
  • Make contact list with policy numbers of homeowners preferred contractors or service companies.
  • Determine best marketing strategy for property; including MLS, social media, and current database
  • Make a tenant booklet that includes Wi-Fi password and location of water heater, electrical panels, etc.
  • Market the property.

Typical leasing steps:

  • Tenant to fill out an application and any required association fees.
  • Prepare or process an attorney prepared lease.
  • Tenant to review and sign the lease.
  • Tenant to give security deposit, pet deposit, half the rental rate and tourist tax.
  • Copy of signed lease agreement to homeowner and tenant.
  • Funds held in the escrow account until the tenant takes possession of the property.

Typical tenant arrival steps:

  • Prior to tenant’s arrival, the property gets cleaned.
  • The homeowner pays for the cleaning and I coordinate it.
  • I’ll inspect the property after it is cleaned; to verify cleanliness and all appliances are in working order.
  • If there are any issues, I’ll discuss with the homeowner.
  • I’ll then coordinate any subcontractors or warranty work that needs done, if there’s a problem.
  • I’ll leave a form for the tenants to fill out if appliances are not working properly.
  • Once tenants take possession of the property, rental proceeds and commissions are disbursed.
  • Tenant deposits and tourist taxes are kept in Waterfront Realty Group, Inc’s escrow account until they’re due to be processed.

Typical tenant departure steps:

  • After tenant departure, I inspect the property to make sure it is in the same condition as when they arrived.
  • If there are any issues, I’ll discuss with the homeowner.
  • I’ll then coordinate any subcontractors or warranty work that needs done, if there’s a problem.
  • I’ll send the tenants a certified letter stating the repair costs, if any, that will be deducted from their security deposit.
  • If there aren’t any issues, the tenant’s security deposit will be returned to them.
  • Check with homeowner to see if they’re interested in current tenant returning for next year; if seasonal lease.
  • Check with tenant to see if they’re interested in leasing the property for the following year; with homeowner approval.
  • If both are in agreement to lease again the following year; the security deposit will be kept in escrow and a new lease will be sent to the tenant for signature.
  • Tenants are expected to not leave more than two loads of laundry; exclusively sheets and towels.

Periodic property check-in:

  • I inspect the property every couple of months; even if there’s a home watch service agreement in place.
  • I will discuss any issues with the homeowner and coordinate any subcontractor or warranty work that needs done.

As you can see, continual communication between the homeowner and the leasing agent is key because there are a lot of steps involved in leasing out a property.

Agent Margie will be happy to provide a first-hand assessment of your property. She can be reached at Agent Margie.

margie 2015Julia “Margie” Stephens, Realtor®
(239) 775-1499
AgentMargie@gmail.com 

Waterfront Realty Group, Inc.
1395 3rd St St
Naples, Florida 34102

 

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