I applaud any residential real estate agent that has the grit to list and sell rental income property. Having been a real estate professional myself for the past thirty years, I understand the challenge of meeting with real estate investors and therein gaining the loyalty and trust required to service their investing needs, whether they are selling or buying income-producing properties.

Nonetheless, I also have a complaint against residential agents that sell rental property. Maybe it’s professional pride, even intolerance, but it exasperates me when real estate professionals who do market income-producing property do not include basic elements about the rental property others as myself can use to sell that property.

In the MLS listing, for instance, residential agents typically do not include essential income and expense data. This is annoying because it means a call to that agent. This would not have been necessary if the agent merely took a few minutes to present the income property properly.

In addition to the obvious data about the income property such as price, address, and number of units, it would be helpful (and more professional) for the residential agent to always include the following in the MLS listing

1. Unit Mix – What are the unit configurations? Are the units two bedroom one bath, three bedroom two bath, and so on? How many units are there for each configuration?
2. Gross Scheduled Income – What is the annual gross rental income? The potential annual income if all units were occupied and collecting realistic (current, not pie-in-the-sky) rents.
3. Operating Expenses – The annual dollar amount spent for property tax, liability insurance, utilities, trash collection, maintenance and repairs, and so on.
4. Rent Per Unit – The current rent charged for each unit.
5. Capitalization Rate – This is optional in the MLS listing, but it can help generate interest. Simply divide the property’s net operating income by the asking price.

After all, the goal is to sell your income property listing. Why not present it in a way that satisfies every inquiry, perhaps peaks interest in the investment property, and at the same time make you look more professional. Moreover, you can show your seller how proactive you are about marketing their rental property.

You can go to ProAPOD Real Estate Investment Software to preview a marketing package. Simply follow Software Reports.

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