What the lease listing TELLS you that is not in the MLS!

By
Real Estate Agent with Tim Francis Realty LLC

 

What the lease listing TELLS you that is not in the MLS!

 

Was out showing properties for lease recently and was amazed at what I could tell first from just a quick glance at the listing sheet info and how that was confirmed by the showing.  What I mean by that is when folks are looking to lease; a big component is how the landlord is going to handle the property. 

 

There are a number of clues in the listing sheet – such as details about the property – pictures – if there are just a few or more info.  Is it updated, clean, and ready to re-rent?  Or does it need an overhaul of a bunch of main rooms. 

 

From the listing sheet I noticed as we got out of the car that the co op fee was lower than the variable LOW fees.  Not a big deal, there’s not a ton of money in showing leases; I just wanted to find a good home for my tenants.  However, that single little clue gave way to a much bigger picture.

 

We met a nice listing agent that then shared with us she owned the property.  (Not in the listing info and should be.)  Then, as we walked through the property there were some nice updates, but some big items still needed help.  After looking at a back yard that was entirely weeds, my client wondered why since it was pretty small it wasn’t in better shape.  Then, as we toured the master bathroom, the house had a new vanity sink and granite countertop but the entire original tile from 50 years ago on the floor and in the tub.  (Unfortunately in the tub – it was black – not just from mold – but truly needed to be re done.)   

 

This was true in a number of areas where the work just didn’t add up.  The agent/owner made suggestions of what the prospective tenant could do (with their own money of course to improve the property.) 

 

So, the little clue in this case told a much bigger picture, the owner was most interested in maximizing their return, but not in maintaining and keeping up a big asset.  My client just left shaking their head, as it seemed like the owner wouldn’t be interested in taking care of the property, but in making complaints about how the tenants weren’t taking care of it. 

 

While there is not a ton on the leasing market available, my clients said NEXT, please!

 

What clues do you see in real estate?

 

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Information and content on this blog is original to Michelle Francis  

Michelle Francis

Tim Francis Realty, Serving Buckhead, Atlanta & Sandy Springs GA

(404) 219-9760

Michelle@TimFrancisRealty.com

 

Want to know more about Residential Buying, Selling, Executive Home Leasing & Property Management in Buckhead, Brookhaven, Garden Hills and Sandy Springs, GA?

If so, you can find me here:

Buckhead, Atlanta, & Sandy Springs Real Estate on Linked-IN

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Wallace S. Gibson, CPM 05/07/2011 05:36 AM
Location:
Georgia Fulton County Atlanta
Groups:
Property Management Professionals
Property Management
BananaTude
31 Days of May Challenge 2011
Tags:
reading between the lines
what is important in executive lease homes

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Rainmaker
734,377
Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Ugh, Michelle, seen too many of those properties, lately.  Unfortunately, the rental market is HUGE right now with so many people being foreclosed or forced to short sale their homes the landlords are getting away with this. Just tuck your pants into your socks and move onto the next one.

May 07, 2011 12:49 AM #1
Rainmaker
1,089,501
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I request that prospects PREVIEW the property on my website as I have UPDATED photos of the property VACANT.  I want to present the property in the BEST light so that when they view it in person, they can VISUALIZE what their new home will look like.

May 07, 2011 05:35 AM #2
Rainmaker
746,106
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Michelle, the rental market here is not booming. I'm kind of surprised at that. Landlords should be keeping the grounds landscaped. Around here that is the case in most cases. You will find that perfect rental for them Michelle!

May 07, 2011 09:39 AM #3
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1,654,480
Tammy Lankford
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

You just gotta hate when they do that.  Hope you find the tenants a great property.  

May 08, 2011 12:03 AM #4
Anonymous
Anonymous

Just stopping by to wish the women in our lives Happy Mother's Day!

Happy Mother's Day!     Happy Mother's Day!

Happy Mother's Day!

May 08, 2011 10:28 AM #5
Rainer
228,109
Diane Rice
Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - South Holland, IL
SFR, SRES, CNC

There are MANY clues not listed on the MLS - SEEING is believing.  Hope your Mother's Day was fulfilling!

May 09, 2011 05:41 AM #6
Rainmaker
409,905
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Juli

We were good, just interesting what you do learn by the little clues.

Wallace

I agree and am making sure my pictures are the most up to date with changes we have done and that folks can see what the place offers.  

Jackie

Fascinating.  I am surprised, but real estate is LOCAL!

Tammy

We did, it was just interesting to see.  Sad that the owner/agent doesn't realize that you will get a better tenant by keeping the property in better shape. 

Russel, 

Thank you!  It was a nice day:-)

Diane

That's why folks really do want to see, when it's too good to be true, it really is!

All the best, Michelle

May 09, 2011 11:25 AM #7
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Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Michelle, I am totally amazed at Realtors selling or leasing their own property when it's in bad shape. Really makes you wonder.

May 15, 2011 06:05 PM #8
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Rainmaker
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Michelle Francis

Realtor, Buckhead Atlanta Homes for Sale & Lease
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