To determine the rental price of a condo in Brickell, we gather information of similar units available for rent, as well as recently rented units in the same building. We evaluate the conditions of the comparables versus your unit and recommend a price.
For example, if a unit in the building was rented for $2,000 but the kitchen and bathroom haven't been updated since it was built and your unit is totally remodeled, it could be rented at a higher price. We look at other factors that could also influence the rental price like:
Unit views: Typically, a unit with direct ocean view is more desirable and therefore the rental price could be higher than a similar unit without water view
Floors: Tile or wood floor tend to be more appealing than carpet floors and again, it could be a factor to consider while pricing your rental property
Furniture: Is the unit fully furnished, partially furnished or unfurnished?
Parking: Parking spaces are a luxury in Brickell. A unit with two parking spaces typically rent higher than those with one or no parking spaces.
Updates: An upgraded unit may rent higher.
Before you list your Brickell condo for rent, it is advised that you do a thorough inspection of the property. Even if the previous tenant never complained about anything, it doesn't mean that everything is functioning properly. It is much better and effective to schedule repairs and deliveries if the property is vacant than if it is already occupied with a new tenant.
Test all appliances:
Turn on the oven to verify that the temperature on the dial and that recorded by a thermometer inside are the same.
Check the water heater pilot to make sure it’s steady and blue.
Wash a load in the washing machine and dry it in the dryer.
Clean out the dryer vents.
Perform any repairs that your tests indicate are needed.
Check walls for possible mold. Look for mold in the following places:
Dark corners of the laundry room
Bathroom tiles and fixtures
Closets
kitchen walls
Check all faucets for possible leaks and test the water temperature
Service the central air system.
A vacancy provides a golden opportunity to do a cooling system turn up. Emergency repairs is the last thing you need
Have the seals checked in the compressor and blower
Replace filters
Check the freon gas
Clean and deodorize
Consider shampooing the carpet if there is one
Replace caulking in showers, bath tops and around the sink
Bring in some air refresher of soft fragrance like linen. Studies have been performed to demonstrate that a good-smelling house rents or sells faster.
No one can promise you a specific time frame to rent your condo. It really depends on the availability in the building, the condition of the unit, and the price that you list it for.
Having said that, our average time frame to rent a unit that is ready to be occupied and well priced is 2 weeks because we advertise it heavily, specially during these first 2 weeks when it hits the market. The first two weeks after your property is listed is when you get the most number of inquiries and applications. Properties generally get the most amount of interest in the first few days while the property is fresh.
Doing it right, the combination of a good marketing system and the real estate agent availability to show the property, it shouldn't take longer than two weeks to rent a condo in Brickell where there is a high demand in rental units.
