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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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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

Manage your investment, don’t just collect rent!

Web Admin - Wednesday, April 22, 2015

Does your rental property live up to your financial expectations?

Don’t overlook the details


Make sure overlooked details don’t detract from the beauty of your property. Ignoring dirt and grime could become a big or costly repair job overtime. Encourage tenant to report maintenance problems immediately. 
Thoroughly clean all vent covers, switch plates and interior air flow grills. 
Replace dented, damaged & rusted fitting covers – don’t just paint over them. 
Examine cabinet interiors and built-ins. Be sure to remove or replace peeling shelf liners. 
Clean window panes (inside and out) to allow ample sunlight to flood the interior spaces. 
Adjust doors; clean sliding door and windows to ensure proper closure and easy operation.

Liven up the Landscape

Manage the property as if you live there. Take a tour of open spaces and inspect landscaping with a critical eye. Pull weeds, prune plantings and add mulch. Discuss options with your professional landscaping team or consult a landscaping architect for recommendations to de-clutter your open-spaces. Consider planting shrubs or low-maintenance ground cover in areas that usually develop bare spots.

Non-rent Income

Collecting ancillary or (non-rent) income is a tool used by many successful real estate investors to generate extra income and increase the value of their property. There are many different sources of non-rent income to consider, such as Application Fees, Admin Fees, Rental Premiums on specific units and Pet fee. Let’s take a closer look at Rental Premiums. Would you charge the same rent in a multi-unit for every two bedroom units with the same floor plan? Does one have a view with vaulted ceilings? Or suppose you have some units with fireplaces and some without. These are an excellent opportunity to capitalize on “Rental Premiums” many savvy rental owners are charging extra for the notion that there is perceived value in a unit on the 3rd floor as opposed to a first floor unit. This example could work the other way as well depending on your clientele; for instance in a senior community there may be a demand for units on the first floor for accessibility reasons.

Managing your investments instead of just collecting rent can increase your bottom line and assist in retaining long-term tenants. However, this does however require a large commitment of time and effort. Find out how Millennium Real Estate can help you find the time you need to do what is most important to you. Visit us online at www.mrerent.com

LOCATION

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