RENT YOUR HOME | RENTER INFO
Thinking of renting or leasing you Balboa Island Home?
We at Lora Vance Realty have been successfully managing rentals and leases on Balboa Island, in Newport Beach, Corona Del Mar, Irvine, Costa Mesa and Orange County since 1974!
Vacation and Short Term Rentals
For Newport Beach short term rentals, the home owner is required to register with the city of Newport Beach and get a business license (not expensive). There is a little prep work in getting your home ready to rent, and then we start to market it. We will want to take photos inside and out. We have a lot of response from our web site! We are the first agency located on Balboa Island to take reservations on line! We post pictures on our web site and on our computer in the front window at our office on Marine Avenue, Balboa Island as well. We take phone orders, internet orders and walk-ins. The walk-ins often want to see the property so you need to be willing to show at a moment’s notice until we get you rented. We collect a security deposit and hold it in trust until we inspect the properties between tenants and orchestrate the cleaning and any repairs if needed and the accounting thereof. We also oversee the preparations between tenants.
Winter and Yearly Leases are always in dewmand!
We screen potential tenants by ordering credit reports, calling references and checking employment and past landlords. We communicate and negotiate between tenant and landlord. Create a legal lease agreement between tenant and landlord. We collect the rental payments monthly and disperse them accordingly, paying any repairs in need.
Our Administrative Duties:
Whether you are short term, winter or yearly, we place you on our web site (no extra charge) and manage the check ins, check outs and cleaning between tenants. We also work with our subcontractors in case of repair that is needed, unless, you have your own provider. We will meet them on the property and arrange for the work to be done as well as provide for payment from your account if authorized. For the vacation rental there is an occupancy tax charge from the city of Newport Beach and we charge the tenant for that expense, do the accounting, as well as pay it to the city for you. We hold the security deposit in trust and inspect between rentals and take care of the paper work and repairs, if any are needed, before dispersing it back to the tenant. We collect the rents as they are booked and disperse the proceeds accordingly, then send the owners a monthly statement along with the rental payment. At the end of the year we provide a 1099 tax form for your tax preparation.
Our rates are:
14 percent of the rent amount for short term rentals, 12 percent for winter (September – June) and 10 percent for yearly properties managed by us / 8 percent for yearly rentals that we turn over to owners who want to manage their own properties.
Let us know
if you have any more questions or you want us to take a look at your rental. The sooner the better as summer is just around the corner! And the yearly and winter leases are renting throughout the year! We can be reached at: (949)673-4062 or stop in and say hello, we would love to work with you!