Welcome to Millennium Realty, LLC

Bringing Owners & Tenants Together

Millennium Real Estate (MRE) is a full-service property management company serving Oakland, Lapeer, Livingston and Macomb counties. Millennium Real Estate has been in business for 15 years and continues to grow. Our success is based on honesty, knowledge, experience and our dedication to customer service. Inquire today to see why we are one of the fastest growing property management companies around.

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HOW MUCH RENT CAN I CHARGE FOR MY RENTAL?

Web Admin - Thursday, July 16, 2015

One of the more important tasks you’ll face as a landlord is pricing your rental. The amount of rent in today’s market and your financial goals for the property are both important ; however, if you set the rent too high, you’ll likely have longer vacancies and high turnover rates as renters seek more budget-friendly options.

When it comes to determining how much rent to charge, it is advisable to consult a Property Manager. A professional property manager, like MRErent.com have deep insight into specific rental markets in Oakland County, Macomb County and Lapeer County. MRErent.com can show you how your rental house stacks up compared to others with similar features. Whether you use a professional rental agent or go the DIY route, you’ll need to know how to compare your property to others on the market in order to set the right price.

Take into account the following items when determining how much rent to charge.

Location, Location, Location

Location is everything when buying or renting and is one of the main determining factors in how much rent you can charge. A few factors to take into consideration are:

  • Close proximity to major thoroughfares for commuting ease
  • Good schools
  • Nearby shopping, restaurants & amenities
  • Nicely maintained houses and landscaping

Main features of your rental

The first things to look at when pricing your rental are the most basic aspects of the property such as:

  • Bedrooms and bathrooms: The number of bedrooms and bathrooms your rental has fundamentally affects how many people it can accommodate and how comfortable they will be.
  • Size of the property: There can be vast differences between properties with the same number of bedrooms and bathrooms. Additional square footage, basement storage and garage space allow a home to be more livable.
  • Overall condition of the home: Although there is an average rental price for each area that is dictacted by current market conditions, the closer your rental is to new condition, the more you can charge.

Finish levels

Most renters expect “standard” rental units to be well-kept, with reasonably up-to-date interior finishes items. Premium features like the one’s listed below can demand a higher rental price and will make your rental stand out among the others.

  • Wood and/or tile floors
  • Attractive cabinetry
  • Granite counter tops
  • New appliances
  • Spacious closets
  • Energy efficient features such as windows & heating systems

Millennium Realty Professional Management

Using MRErent.com is not only a major convenience for you, the rental owner and it adds significant peace of mind for your tenants, as well. Renters are likely to pay more when they know that any issues that arise will be dealt with promptly and fairly by a dedicated professional manager. MRErent.com has a 24-hour maintenance emergency line and multiple licensed contractors that are ready and able to handle it all! For additional information, give us a call at 248.394.0464 or visit us online at MRErent.com.

Ready to Rent: Tips & Tricks for renting homes

Web Admin - Thursday, June 25, 2015

Vacant rentals are expensive and rank right up there with evictions, late payments and 2 a.m. service calls. Assuming you have a mortgage to pay, it’s likely that any vacancy lasting more than a couple of months will essentially cost you a full year’s profit on your rental. At Millennium Real Estate, we offer an aggressive marketing strategy throughout Oakland County & beyond to fill vacancies fast. Use the following tips to help to get your property rented or visit us online at MRErent.com to find out about our professional Property Management services.

Signs, Signs, Signs

  • One of the easiest ways to attract interest in your rental is to have a great “for rent” sign.
  • Make Sure It Looks professional
  • Is visible from the street
  • List all the details
  • Attach a flyer with photos

Use Your Contacts

  • Don’t be shy about letting everyone know about your property. Take advantage of your social network, friends, colleague’s and neighbors to generate some free, or low-cost, advertising.
  • Email friends and family
  • Send postcards or flyers to the neighbors
  • Post flyers at local businesses, community centers, coffee shops & Grocery stores

Tap Into The World-Wide Web

  • Post Craigslist ads On Fridays, a recent Zillow study shows that houses listed on a Friday get many more viewings, and sell much faster than houses listed on other days.
  • Create a website for your rental: use targeted keywords (including the terms “rental house,” “house for rent,” and your area and county), you’ll likely get some traffic.
  • Post a video tour on YouTube: Create a short video tour of your rental house and post it on YouTube. Be sure to make the video part of the website, and/or point to it from your Craigslist ad and social media accounts.

Invite Them Inside

  • Private showings are a must, however if you schedule and open house, you give the curious an opportunity to look inside and peak interest.
  • Turn the lights on and leave the blinds open
  • Host a party or garage sale at the home
  • Have the open-house crowd all to yourself – schedule it at an alternate time of typical open houses
  • Make sure landscaping is manicured and the interior spaces are fresh & clean

LOCATION

Millennium Real Estate
3676 Clarkston Rd. Suite A
Clarkston, MI 48348
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