Olympia area - Thurston County
Search for rentals in the Olympia area, including these towns:
Lacey, Littlerock, Maytown, McCleary, Olympia, Roy, Shelton, Tumwater, Yelm, in WA.
Question: What should I look for when picking a home to lease out?
Wendy Frenzel: When you are buying a house to lease out, one of the first things is make sure you get a home inspection. That way you can find out, is there any concerns. Would you live in this home? If you wouldn’t live in this home then don’t expect someone else to. You want to make sure the people that live in the home are similar like minded as you. Usually these people make good residences if they think like you. You get along better.
So have your home inspected and then have a home warranty on it, those people don’t think about home warranties on homes that are leased. With a home warranty you can protect those items like the refrigerator the dishwasher the furnace, the AC the hot water heater all those things.
So you are going to be less worried about put money in to the home because when that one big thing goes, the warranty covers it. It becomes a win – win situation when a visit from a home warranty company is only $45. You are more likely to keep investing in that home and keeps the residence happy and keeps the value up.
Question: We are sitting in a very new home (Castle Rock Meadows) what are the pros and cons of buying new verses old house for rent?
Wendy Frenzel:Right now people are looking for brand new. They like the big trees. But because there is such screaming deals on new homes if you have good enough credit to buy builders are giving away homes for lack of a better term they are giving great incentives. So we are competing with those incentives when you are trying to lease a home. You want to give the idea of being the best and the newest. If you can you are doing great.
You can have a home that is 5 years old and a home that is brand new. You have to price the 5 year old home even though it is in great condition a little bit lower because (the renters) are expecting brand new.
So I perfer newer homes, residence perfer newer homes because they think we are not going to have any concerns or issues. Its a new home. They worry about the older homes, like the dishwasher going out the hot water heater going out thoes kinds of items that is why you get a home warranty. residence beather a little bit easier and they know they are not going to have to worry can the owner afford that new dishwasher when it goes out.