Property Manager · Charlotte, NC · Member since 2022 · 138 posts · 87 votes
I am gearing up to rent out my 3 bedroom (with a loft), 2.5 bathroom home in Denver, NC for the first time. I'm debating offering a 12-24 month lease term. The house is on a corner lot, built in Dec. 2020, 1/4 acre in a subdivision, right under 1983 SF. I installed a mini-split to the garage (standard two car).
Schools are: St. James Elementary / Westlake Preparatory Academy / Lake Norman Charter, East Lincoln Middle, East Lincoln High (great school district).
Do I leave it semi furnished; king size bed, night stands, washer and dryer, tv in the loft, twin size day bed in one bedroom. OR do I simply leave the kitchen appliances (fridge too), and the washer/dryer?
Do I include a utility addendum that outlines the charge for internet (paid to me by the renter) and keep the internet in my name? In the same respect, my water usage averages under $40 a month however, not knowing how many tenants may occupy the home, do I charge a flat rate of $100 and bill them any overages or 'eat the overage'?
TLDR: Should I rent out semi-furnished or empty? 12-24 month lease term? Utilities included or in tenant name?
I recommend completely unfurnished, though appliances are a huge plus, and have the new tenant move all utilities and internet under their own name.
Lease length is completely up to you. I like shorter terms because it allows us an “out” if the tenant is difficult to work with and it allows us to increase rent if needed.
Most people want fully furnished or not furnished, the semi-furnished always ends up being not the right amount. Also if you are going to do fully furnished for short term or medium term rentals including utilities makes sense, but if it is a long term rental it is much cleaner just to have them get the utilities in their own name. Just my opinion.
I recommend completely unfurnished, though appliances are a huge plus, and have the new tenant move all utilities and internet under their own name.
Lease length is completely up to you. I like shorter terms because it allows us an “out” if the tenant is difficult to work with and it allows us to increase rent if needed.
@Lorien Wolff empty with all appliances is the easiest & fastest way to rent your property in Denver, NC. The rents in our area are lower than the property prices; all my new leases go with a 12 Month terms and then month-to-month, so I can raise the rent in the second year if the rent market supports this. In LTR you will have fewer problems if utilities are paid by the tangents.
Leave it completely unfurnished, but include the washer/dryer and fridge. I would suggest a 12 month lease that changes to a higher priced month-to-month rent afterwards if they do not want to sign another 12 month lease.
I would not recommend keeping any utility or internet in your name and having them pay you monthly. Have them put it in their name, or keep it in your name and price it as "all inclusive". The latter is what I do. I outline the utility cap in the lease. I charge them for any overages, although that has never happened.