Selling a Rental Property in the LBI Real Estate Market on Long Beach Island New Jersey
Preparing to Sell Your Rental Property on Long Beach Island NJLong Beach Island NJ and the LBI Real Estate Market
Long Beach Island NJ is famous for its white sandy beaches, family friendly atmosphere and exciting summer activities. Essential to these summer activities, and the Long Beach Island economy in general, are the summer tourists that make up a large percentage of the Long Beach Island summertime population. While renting a house in the LBI real estate market can be a smart investment and help in the costs of ownership on Long Beach Island, renting a house does create additional wear and tear on the property which can be detrimental to the value of a house when it comes time to sell. Therefore, there are some important steps that should be taken when Preparing to Sell Your Rental Property on Long Beach Island NJ.
Preparing to Sell Your Rental Property on Long Beach Island NJ
A solid rental history can be a great asset when selling a house on Long Beach Island as the proven rental income can help increase the marketability of a property and attract additional interest. It is important to remember that even with the added bonus of rental income, condition matters a great deal to buyers in the LBI real estate market. The following are a few basic and relatively inexpensive steps that can be taken when Preparing to Sell Your Rental Property on Long Beach Island NJ to help increase the sales price:
- Clean the carpets in your rental property
- Touch up paint (or in some cases repaint the interior)
- Replace or remove damaged and stained furniture
Above all else, clean carpets may be the most important step to take when Preparing to Sell Your Rental Property on Long Beach Island NJ. Carpets can show stains and dirt more than tile or hardwood flooring and can also retain a “musty” smell. It is in fact often the carpets that account for the “beach” smell that many people attribute to older homes on LBI. In some cases replacement of the carpets may be the best route, however often times a simple cleaning by a professional company will not only remove stains but also give the house a clean smell.
After the carpets, paint on the walls can very often be a tell tale sign of a rental property and lead buyers to believe the house is not well cared for. With the volume of renters checking into and out of the house (in most cases every week) it is common and expected that walls will become scuffed and soiled. While painting may be a daunting task, a touch up paint job or regular cleaning of marks will help give buyers a better first impression. The entire painting of the interior is indeed a large and costly expense, however depending on the condition of the property, it may be a justified cost to ensure favorable showings and the eventual sale of the property.
Lastly, the furniture in the house may need to be addressed. If a particular item in the house such as a couch or a chair has become dirty beyond the normal expectations of daily use, it would be wise to remediate prior to listing the house for sale in the LBI real estate market. It may be possible that the same company used to clean the carpets can also clean the furniture thus saving time and money! If the item is beyond cleaning, remove it from the house. It would be better to have nothing in the room rather than old and dirty furniture which can give a negative impression to buyers.
Selling in the LBI Real Estate Market on Long Beach Island New Jersey
It is important to remember that the above suggestions are not intended to mislead any potential buyer, especially as many buyers will consider a healthy rental history to be an advantage. Rather, the aim should be to create a positive first impression. The LBI real estate market is competitive and a home or condominium must look its best in order to compete. These few simple steps when Preparing to Sell Your Rental Property on Long Beach Island NJ should go a long way in helping to sell your house for top dollar with minimal investment of time and money. If you are considering selling your home on Long Beach Island and would like more information about Preparing to Sell Your Rental Property on Long Beach Island NJ or the LBI real estate market in general, please do not hesitate to contact me, Nathan Colmer, and I will be happy to help!
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Related Articles:
- Rebuilding After Hurricane Sandy on LBI
- Credit Scores and the LBI NJ Real Estate Market
- How Mortgage Interest Rates Are Determined On Long Beach Island
- President’s Day Weekend and the LBI NJ Real Estate Market
- 1031 Tax Exchange on Long Beach Island