Best Units To Rent To Tenants
Hi all,
This question is for all the experts in "landlordship".
What are the best tenants (the ones every one wants) looking for?
a- 2Br/1Ba
b- 2Br/2Ba
c- 3Br/2Ba
d- 4Br/2Ba
Note: I do realize that the question is not specific enough, yet I am interested in every one's perspective.
In my area the slightly Northern portion of Los Angeles County. 2br, 2 ba. But the question of a good tenant. Quiet, undemanding, no pets, good car, seldom home. steady job committed to the moralities of the existing social system. No drugs, no shooting up on the front steps, etc. etc. is not confined to the questions of bedrooms and baths. I have on old lady lives in a single been there 10 years..Of course the 3br 3ba in which they set up the Meth lab. paid three months in front looked like Mr. and Mrs. Middle Class Banker or CPA type. now that was interesting. Oh yes the couple who came in rented 2 br 2ba, city view 2 car parking. Paid l year in advance said they would be in and out a lot and did not want the bother. The cops arrested them some kind of a porno scam. So I re rented the apartment and the one year of rent I put into a special account called Pleasure.
Hope this helps. Lucius
I believe it depends on location, economy type of property and time of the year. I know in the very hot areas out west it is best to market rentals when it is no so hot.
Remember Real Estate is about location, location, location.
I prefer 3bd 2ba SFR’s. They rent the best for me in my area. My 1bd condo remained vacant for 45 days late this summer B/4 it rented.
Before deciding, do a “Rent Survey” of the area in question. Look at your local publications see how many rentals of each type are listed. Call the local property management Co’s and ask what they have available ect. Call on the Ad’s and ask how long they have been on the market (if they will tell you). Talk to your local Realtor (if they market rentals).
If you’re into Buy & Hold and want to manage you own investments by all means do a Rental Survey along with your comps for you purchases.
Do your homework!!!
JBW
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I have had success in renting all the types you mentioned. The location, upkeep of the property, and the amount of rent you are aksing all help make it attractive.
3 BR/2 BA Single Family homes rent the best in my part of North Carolina. They go like hotcakes!! So much so, we are ready to acquire more and get rid of some of the condos we currently have.
2br.1bth historically best tenant for me. Lass chance for kids, mostly singles.
3br/2bth most in demand.
I prefer to own to the two bedooms tho.
FYI - I am building 3br/2bth and 2br/2bth. The three bedroom always go first.
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I have to agree with all the above posted, the type of rental depends on the location.
Here in Altanta, 3Bd rule the day. 2Bd are so worthless here builders aren't even building them anymore. 1Bd are ok, unless you are close to one of the colleges, then you're always packed and can charge higher rents.