How Much Can I Rent My House For? Property Manager Explains

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When you’re determining how much to rent your house for, the old story of location-location-location still holds true. A house in a great location will get more money than the same house in a bad location. So if you’re preparing to invest, make sure you buy a property in a desirable location. There are other things that impact what you’ll charge for your rental property.

Compare Your Property to Others

Go onto Realtor.com and get comparable rental amounts. See what other people in the neighborhood are listing their houses for. Look at the recent history of rental properties. Check the last six months and see what houses of similar size and quality have rented for. You have to see what the competition is renting for. If your house is the only one in a subdivision with four bedrooms, you’ll be able to charge a little extra. But if there are 10 or 12 houses that are just like yours, you’ll need to adjust your price so it’s more competitive. Check Zillow.com and other sources to figure out where your price should fall. Remember that Realtors and property managers have all these tools before they even put a property on the market.

Consider the Amenities Available

Amenities are important in your house and in the neighborhood. Think about what the appliances look like, because that will make a difference. We always put a lot of emphasis on new appliances. You can usually expect more rent if there’s a playground in the neighborhood for kids, a community pool, or a pool at the house. All of these things should be considered when establishing a competitive rent.

Price Your Property to Avoid Vacancy

Avoid renting your property for the same as all the other properties like yours. When you do that, you can expect the same leasing speed. When you price your home just a How Much Can I Rent my House For? Houston Property Manager Explainslittle bit lower and you have a nicer property to offer, you’ll rent it faster. Present the home in its best condition and you’ll rent to a good tenant quickly.

If you have any questions about how to price your rental property, please contact us at Residential Leasing and Management. We’ll go over what you have to offer, and make a pricing recommendation.

2017-07-25T18:22:35+00:00 August 24th, 2016|Property Management Education|0 Comments