Some of my past clients have recently mentioned that they are thinking about renting out their home or condo instead of taking their chances of breaking even in todays slowing real estate market. But, are they ready to take on being a landlord?  Do they know the cost involved in doing so?  There are landlord-tenant laws, fair housing laws and local renting rules that have to be followed. Being a landlord is not as simple as hanging out a “for rent” sign.  The landlord has to get the home in rentable condition and keep it maintained. This includes keeping the grounds of the property clean and free of debris.  If anything goes wrong with the property, the landlord has to be available day or night to fix it. 

A successful landlord has to screen potential renters by way of credit checks, get references, take the time to pick the best tenants and managers carefully.  Sometimes you have to make the choice to gamble on not so good credit scores.  And, if you want to get a tenant out that is not paying rent or is causing a problem, the eviction process can be long, painful and costly.

Renting your home can be a profitable alternative to selling your home in a slow market, but you have to be sure that you have what it takes.  I would strongly suggest that you discuss the option with your accountant or others in the area that have rented before you take on being a landlord. If you should decide to rent your home, condo or townhome, be sure to get it in writing and have the maximum amount of rental insurance, property liability, and any other type of insurance that may be required in your state. This can protect you from devastating losses.

If you do not have the time or live too far away from the rental property, you may need to enlist the services of a real estate agent in leasing out your property. Having an experienced, local real estate agent at your disposal can be very valuable.  To date there are 48 properties for rent in Hinsdale.  They range in asking rental prices of $1000/month to $20,000/month.  In the past six months Hinsdale has rented 45 properties, ranging from $1400/month to $6000/month.  For a current list of properties cick on MLS search above or send me an email and I’ll be happy to send the list.

I came home from a prospective clients home today and they were wondering if it would be better if they vacate their home in order to sell it right away.  Over the years there have been many sellers that have asked me the question…Is it better to vacate the home or keep the furnishings in the home?  I thought that I should share that there are two different points of view in the real estate world about this subject. 

One would be that an empty house is like a blank canvas.  Prospective clients can more easily imagine what there belongings would look like in the vacant, clean, neutral home.  Although, the buyer may also assume that since the home is vacant the seller is more motivated to sell.  This train of thought might lead the buyer to think that the seller will entertain a much lower offer.

The other point of view would be to make sure home is furnished in order to gain top dollar for the home.   Personal taste in home furnishings is highly subjective on whether it looks better with the furnishings or without.  Unless the furniture is relatively new, neutral in taste and design and looks really great with the other furnishings and artwork in the home, it may have a more positive effect to vacant the home.  Homes that do not paint the picture of comfort and beauty with furniture may appeal more to the buyer that can easily paint the home with their own furnishings. In fact it is a buying signal to the agent, when they start to place their own furniture in the home. 

Will the vacant homes attract lower offers?  They might, but if the price is right, the home will attract reasonable offers too.  Sometimes these offers end up with shorter closing timeframes, because the home is ready to be occupied immediately.  Time is money.  Sometimes you have to spend money to make money.  When a home is vacant the scrapes on the walls, the worn out or dirty carpet and other things may become more visable.  In this case it would be advised that if you do vacate the home in order to sell it, an investment in a handyman, a cleaning company, a fresh coat of paint, or possibly new carpet will improve the condition of the home.  This always give a cleaner, neutral canvas for the prospective buyers.

Being a Realtor for Life means more to me than selling homes.  I understand the art of marketing a vacant home.  Let me help you paint the picture.  I have the vision and experience to help you. Give me a call when you need help in deciding if your home should be vacated or left furnished.  I can be reached at 630-842-8812 or visit my website at www.CarlaSteuck.com.  I look forward to hearing from you.

The “You’re a Grand Old Flag” Independence Day Parade in Hinsdale started at Garfield and Sixth Streets, continued west on First Street to Grant Street and then returned to Sixth Street. The grand marshal was the U.S. Army Major Mark Andres, starting off a great succession of marching bands, floats, clowns and military re-enactments. There were many neighborhood groups.  The streets were lined with many excited faces. I for one was very excited to see my children in the parade, contributing to community with smiling faces.  The parade was followed by the second annual family festival on the grounds of Hinsdale Middle School.  Children enjoyed a petting zoo, inflatable attractions, games, face painting, pony rides and concessions. The Fourth of July Art and Craft fair is always a huge attraction. The fair continues to grow. I think there were over 70 entries this year.  It’s exiciting to see Hinsdale maintain a downhome feel for its residents over this yearly holiday festival.

Hinsdale no longer offers its own fireworks display, but residents don’t have to drive far to see a great show. Fireworks will begin tonight at dusk in the Oak Brook Polo fields (at York Road and 31st street). Food and beverages will begin at 4:00pm at the Taste of Oak Brook. Come enjoy the music and the firework display…its a great time had by all.