Do you own residential rental property in CT or NY? Or are you thinking of renting out your home for the first time? Or are you a seasoned veteran looking for a strong real estate agent? The professional Realtors® at BHGRE Shore & Country Properties are here to help you.
Renting with BHGRE Shore & Country Properties
- Our goal is to help you find high quality tenants quickly at a good rent.
- We put your rental listing on the of Realtors® look for rentals for their clients.
- We pre-screen the candidates and take them to see a selection of rentals that meet their needs. We present your property in its best light.
- When candidates like your rental, we have them fill out a comprehensive application; they pay for a credit report, and we ask them for proof of legal income (such as a pay stub), and if necessary, a letter of reference from a current landlord. You don’t waste your time doing all of this, we do it for you.
- The candidate makes an offer to you based on credit-worthiness and other factors. We help you reach agreement on rent and security and we can arrange for you to meet the candidate if you wish. Remember…our goal is for you to find high quality tenants at a good rent.
- We draw up a lease that is legally sound and easy to understand.
- When your new tenant has signed the lease and paid the first month’s rent and security deposits, you pay us our fee, typically one month’s rent. We never charge a fee for a lease renewal.
You must comply with state and local regulations regarding tenant and landlord rights and responsibilities. Some helpful sites are listed here:
- State of CT website for regulations on housing matters, landlord and tenant rights and responsibilities, rules for handling security deposits and eviction.
You should become familiar with the federal and state fair housing laws, which prohibit discrimination against prospective tenants based on factors such as their race, religion, national origin, and several other categories of protection. These laws vary depending on the number of rental units in your building and whether this is an owner-occupied home. Check with your attorney to make sure you are complying with fair housing laws in CT and NY.
You should also keep good records of rent income and repairs, mortgage payments, and so on, and you should have a separate escrow savings account for the security deposit. Speak with your tax advisor about how you will report your rental income and how much of your expenses may be tax deductible.
NOTE: This website does not offer legal or tax advice, so please contact your attorney or tax advisor for more detailed information.