Sharing a Rental Success

[Cale Delaney]

Wanted to share a little rental success: We had a tenant give proper notice that he was moving out and we listed it with a little over 30 days before his lease officially ended. There was a flurry of activity at first, but no bites then it died off for a couple weeks and then picked back up again, but still no bites. Less than a week before his lease was about to end, we were able to secure a new tenant who moved in the day it became available for an 8% higher rent plus we passed on the water bill via RUBS (ratio utility billing system - billing her based on her SF compared to the overall property SF since only one water meter) so that was essentially another 7% increase.

So by being patient and sticking it out we got a 15% rental increase translating to $1800 more annual cash flow and no vacancy.

I have my license and listed it on MLS, but also used Zillow, Zumper, Facebook, and Craigslist. Zumper got the most leads, but Craigslist got the tenant.