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Shapiro Real Estate

  /  Lifestyle   /  A 13-Step Guide to Renting Out Your Property

A 13-Step Guide to Renting Out Your Property

 

 

 

 

You don’t need to hire a property management company to rent out your property. Today I’d like to share how you can rent out your property on your own in just 13 simple steps.

 

Renting out your second home can be a great way to earn passive income, but how should you approach the task of managing this property? Some will encourage you to hire a property manager, but the truth is that you can easily, and effectively, handle this job on your own.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

00:22 – An introduction to today’s topic

01:00 – Step One: Run the numbers and make sure it makes sense

01:26 – Step Two: Prepare the property

01:51 – Step Three: Hire a professional photographer

02:34 – Step Four: Create a “Tenant Criteria” sheet

04:33 – Step Five: Start advertising your property

05:30 – Step Six: Screen your tenants by phone

06:58 – Step Seven: Schedule showings

08:27 – Step Eight: Process applications

09:00 – Step Nine: Screen your tenants on a deeper level

10:03 – Step Ten: Call landlord references

10:56 – Step Eleven: Have the tenant sign the lease

11:39 – Step Twelve: Collect the first month of rent and the security deposit

12:32 – Step Thirteen: Get a signed “Property Condition” form

13:29 – A conclusion to today’s topic

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

David Shapiro’s passion for real estate began at an early age. In fact, he purchased his first property before he was even old enough to toast the transaction with a glass of champagne. During the past decade, David has dedicated himself to ensuring homebuyers and sellers reach their real estate and financial goals the same way he’s attained his: by making smart choices. Meet David Shapiro, investor, health nut, environmentalist, consumer champion and consummate professional. A self-made success who devotes his free time to fitness and friends, David finds motivation in helping his friends and clients further their financial success through selecting the right real estate investments. “I’m thrilled to be able to add value to every transaction thanks to the tools and resources at my disposal,” David says. “I always want my clients to have the competitive edge and I've developed some unique strategies and analysis tools to do just that.” No stranger to the art of negotiation, the University of Connecticut graduate put himself through school by selling high-quality, American-made knives for Cutco Cutlery Corporation in consumers’ homes. By focusing on his clients’ needs and really listening to their objectives, David realized almost instant success. Through his hard work, dedication and commitment to customer service, he became the top team builder in the country within a year. David’s business continued to flourish thanks to the ultimate compliment a salesperson can receive: referrals. “I’m proud to say that I was debt-free within three months of earning my degree in business and technology,” says David. Since purchasing his first property at the age of 20, David has gone on to invest in a half-dozen rental properties and is a partner in the acquisition of a commercial building. He’s also a developer. Successfully orchestrating the financing, construction, marketing and ultimately the sale of “Spec” homes built from the ground up, David invests based on his understanding of the locations, features and amenities home buyers want, as well as the prices they are willing to pay. “Throughout the past decade of investing in real estate, friends and family members would routinely consult with me before buying,” David says. “I feel that owning real estate should be a part of everybody’s portfolio and I’m motivated to help my friends and clients further their financial success, and I believe that real estate is the best vehicle to do that. I want to make sure they make wise decisions." “As soon as I began to realize my representation was making a big, positive difference, I knew I would make real estate my career,” he continues. I love the opportunity to put my experience and negotiating skills to work on a daily basis and am firmly committed to helping my clients get exactly what they want, for the best possible price and terms.” Determined to deliver superior service, David is no stranger to going the extra mile for his clients. For example, if current listings for sale in his buyer’s chosen location do not meet the client’s criteria, he will put his direct mailing expertise to work, targeting the exact profile of the property his buyer wants. Bottom line: David will never let his buyers feel forced to settle for anything less than the ideal property. More than simply finding property, David appreciates the opportunity to help his clients understand all of the financial aspects of purchasing real estate, both today and in the future. David is able to conduct a detailed investment analysis and examine a home’s future ownership costs. “I’ve personally used real estate as the guaranteed methodical way to build wealth,” he explains. “It’s created more millionaires than anything else. When it comes to investing, there are so many different perspectives and lots of people talking about how to do it. I want to know that my friends and clients are getting the right advice and investing correctly. I’ve been doing it for over 10 years and I’ve never lost money on a deal.” Though he hails from the East Coast, David says after visiting Austin, he knew the thriving city was the perfect fit for his active lifestyle. “There’s easy access to water, hiking, biking, running, you name it and you’ll find it here,” says David. “Austin has plenty of social sports leagues, which is great if you’re looking to meet new people. If you’re into fitness and healthy eating, you’ll love Austin’s restaurant scene which caters to a wide range of palates. If you’re following a Paleo or gluten-free diet, there’s a presence here.” After attending a charity event last year hosted by Heroes for Children, David decided to contribute more and now serves on the planning committee of Hold ‘Em for Heroes, an event of which the proceeds provide financial and social assistance to families with children battling cancer. “I’m moved by how a moderate-sized donation can have a significant impact on these families,” says David. “For some families, they can be forced to choose between paying medical bills or their electric bills. In those cases, the organization covers the utilities, which can be a huge help to folks already in a tough spot.” An expert who prides himself on pairing outstanding customer service with superior market knowledge, David and his team focus on the City of Austin, assisting homebuyers and sellers in realizing maximum value on their real estate transactions.

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