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Nest DC

RE-LEASE OVERVIEW

Prepared for Wesley and Jenny

PROPERTY ADDRESS: 960 Shepherd St NW

[email protected]|nest-dc.com


Wesley and Jenny, we have loved working with you for the past 3 years! As mentioned in our email, your tenants have given notice, ending their tenancy on April 1 and we are excited to lease and continue management of your home!

The steps below will recap our services, ensure we have everything we need to best market your home, and introduce you to the teams you'll be working with along the way.

Please let me know if you have any questions at all, I'm always happy to help.

Best,

Elise Horvath
Client Experience Specialist
Nest DC

Re-leasing Snapshot

Property Address:

960 Shepherd St NW

Original Rent / Current Rent:

$4200 / $4370

Proposed Rent in Current Market:

$4450

Marketing fee:

100% of one month's rent


MARKETING

Leasing Overview

Finding great tenants for your space

We continue to expand our marketing strategies to ensure we are poised to attract the best candidates. The foundation starts with great professional photos and an enticing accurate description of the home and neighborhood. If needed, our in-house photographer can also generate a 3D Matterport tour. We'll present your property broadly across digital channels and on our own heavily trafficked Nest DC website. Once the listing is live, we will connect you with your dedicated Leasing Specialist who will be your expert in finding great tenants. They will be fielding interest, holding showings, processing applications, monitoring market conditions to stay competitive, and keeping you updated on progress!

Marketing Services

  • Professional photos
  • Virtual 3-D tours via Matterport
  • Listing on 30+ sites including Craigslist, Zillow, Hotpads, Apartments.com, and more!
  • Listing on Nest DC's heavily trafficked website
  • On property contemporary 'for lease' signage with Nest branding
  • Social media highlights (Facebook + Instagram)
  • Showings to all interested prospects including virtual/ pandemic safe visits, daytime, early evening + weekend showings

Market Climate

Factors we are experiencing in DC

The DC rental market has gone through quite a time in the last year or so, and it's been difficult to predict where we'll be just a few months from now. As we finish out the winter season and make our way into warmer weather, we'll want to keep in mind the trends of longer marketing periods we're currently seeing and not get ahead of the market too quickly. Because of the current lull we're experiencing across the market, we'll be focusing on pricing competitively and mitigating vacancy as best as possible to fill your home with caring, qualified renters!

This georgous and modern 4 bedroom home is the ideal space to welcome some new nesters! Tucked in the Petworth neighborhood, this home is ideal for anyone wanting a large, quiet sanctuary to escape from the busy city life, while still have the city amenities at their fingertips. This chic and cozy space will surely turn some heads!

Recommended Rate

Given the current market conditions and details of your home, we would recommend listing at $4450. Our goal is to price accurately to hit the market competitively and minimize vacancy, while getting you as much for your home as we can. Keep in mind that this is a starting point and while we hope it won’t be necessary to go any lower, your Leasing Specialist will recommend adjustments or negotiations as needed, based on interest levels and feedback.

Below are some comparable units for you to review, which have helped us determine pricing.


Properties currently on the market:

728 Rock Creek Church Rd NW 4 bed 2 bath, 2126 sqft., listed for $4200, similar square footage but not as updated as your home, has been on the market for 2 months

1232 Quincy St NW #1 3 bed 3.5 bath, 1600 sqft., listed for $4500, brand new home with a similar aesthetic and den space but less square footage and bedrooms

3721 New Hampshire Ave NW #1 3 bed, 3 bath, 1771 sqft., listed for $4500, large, newly constructed unit that has been on the market for over three months--comes furnished

1242 Quincy St NW #1 3 bed, 3.5 bath, 1789 sqft., listed for $4600, includes rooftop deck and parking


TURNOVER SERVICES

Getting Rent Ready!

What to expect between tenants

When a tenant moves out of a space, getting your space “rent-ready” is a critical part of the leasing process. A clean, freshly painted, and well-maintained space is essential for many reasons. First, spaces in tip-top condition attract the best tenants. Second, many of the things that need attention are required to maintain your BBL. The turnover process also sets the expectations for how tenants should leave the space when they eventually move out. Finally, tenants expect it! They pay a premium to live in this city, and in great spaces. There are increasingly more choices for tenants all the time, so setting your unit apart from other rentals is important.

Your Turnover Specialist will conduct a walkthrough once the home is completely vacant and will assess the basic cosmetic needs, check appliances for on/off functionality, and look for any indication of maintenance needs. You will receive a quote from your Turnover Specialist for approval before any work is scheduled. The quote will generally include patching, painting, caulking, and replacing light bulbs, blinds, and air filters which our crew will take care of at $125/hr for 2 people, not including materials.

We may also make recommendations on other work that is needed which may either be within our crew's capabilities or may be best handled by a specialized partner vendor.

A deep cleaning will be lined up before your new tenants move in. If a preliminary cleaning is needed prior to that for marketing purposes, your Leasing Specialist will inform you.

Security Deposit

In addition to the scope of work, your Turnover Specialist will make a recommendation on the return of your previous tenant's security deposit. If there are any damages that should get billed to the tenant, they will note that as well.

For answers to commonly asked questions around the security deposit, check out this document.

NEXT STEPS

So...what's next?

Please return to the email to complete the necessary forms for us to prepare your listing, most importantly, the renewal questionnaire. Once we have that, we can get your listing ready and then we'll introduce you to your leasing specialist once it's posted!

QUESTIONS?

CALL OR EMAIL US!

[email protected]

202-540-8038