A.D. CANTELMO REALTY/TONY CANTELMO
BROKER
TONY CANTELMO




A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California

How to price a home for rent



Anytime I talk to one of my clients about how much to rent their property for, First I have to understand who the client is. Every client is different and it is very important that I make sure the client is comfortable with the information I am giving them. If the client has been with my company and we have gone through the rental process before, it is easy for me, because I already understand their situation and their mind set, but if it is a new client, I have to work on understanding them and understanding their situation.

The difference in Landlords

I can’t tell you how often people tell me that their Realtor is not doing enough to rent their property and that they are angry that their property has been vacant for a period of time. The important part of the conversation is that they are angry about a vacant property. Now no Landlord wants a vacant property, but some understand why their property is taking a longer time to rent, but others just want it rented. The difference is that one may be comfortable with getting the right price and the right Tenant, but the other can’t afford to lose rent. The two life situations are different and as a Real Estate Broker I need to understand that before we move forward.

Pricing conversation

The first thing I do when I sit down with a client and talk about how much to rent their property for, is I ask them how much they think their property is worth. Now I do the same thing when I am going to sell a property, because as much as people will tell me they don’t know, they all have a number in mind and sometime it takes some doing on my part, but I will eventually get that number out of them. Why is that important? If as a Broker, I come in and tell someone their property is worth less to rent then what they think, and I rent the property quickly, they will always have in the back of their mind that they could have received more money and that will stay with them and really hurt the confidence they have in me. Does that mean that I will agree with them on the price, no, but it does mean that I will listen to what they say and try and reconcile what they say to their life situation?

Appropriate pricing


Let’s go back and to a Landlords situation and how that will affect the price I will put on the home for rent. If in our conversation, I find out that they are losing money every month and that a vacant property is really hurting their financial situation, Then I will fight to get their property on the market at a price that I am confident will get the property rented quickly.  I would rather get that property rented and have the client upset for a while rather than have a vacant property and have the client be hurt financially.
Now, if I have a client that is comfortable with pushing the market for a higher price then what the comps say, then I am all in and I love to push the market up. In fact now, the rental market seems to have no ceiling and I am pushing just about every home I have for rent and getting it. But again, when you break new ground, sometimes it takes time and the client has to understand that and be comfortable with it. I have had clients who actually drive me crazy by turning down clients who I feel would be a good fit, but they are looking for something else and they are willing to wait and they accept a longer vacancy.

A satisfying outcome

So the real question is not how much a property should rent for, the real question is how much can I get for a property without hurting the client, and that question can only be answered by understanding who the client is and what they need to happen. It's easy to give a client numbers and put the property on the market at the market price, and it is also easy to put the property on the market at a price higher than the market price and try and get more money for the client, but understanding not only what the client wants and expects, but what the client needs is the real trick. It can take some work to get that understanding, but in the end, you will find that the client will be satisfied with the outcome.






A.D. Cantelmo Property

Management Specializes in Property Management in Orange County Ca.

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What my clients are saying  

5 reviews 5.0 star rating 1/21/2016 I was tired of using a large management team to manage my investment property. I felt I was always on the back burner. I was recommended to Tony from a business associate, he assured me I would be very pleased. Well that was an understatement, Tony is amazing. He's above all honest and always available for my concerns. I'm not as well versed as other investors with property management and maintenance and tenant relations, Tony has been an excellent partner and has guided me through quite a bit of needed repairs and worked far beyond what was expected to help turn my little investment into quite a prosperous investment, If what your looking for is prompt return calls, honest direction and someone very knowledgeable with general contractors and real estate laws, Tony is your man. Angela

 

~ Angela

5 reviews 5.0 star rating 1/21/2016 I was tired of using a large management team to manage my investment property. I felt I was always on the back burner. I was recommended to Tony from a business associate, he assured me I would be very pleased. Well that was an understatement, Tony is amazing. He's above all honest and always available for my concerns. I'm not as well versed as other investors with property management and maintenance and tenant relations, Tony has been an excellent partner and has guided me through quite a bit of needed repairs and worked far beyond what was expected to help turn my little investment into quite a prosperous investment, If what your looking for is prompt return calls, honest direction and someone very knowledgeable with general contractors and real estate laws, Tony is your man. Angela

 

~ Angela

"10 out of 10 I am so Happy Since I left my old company and I joined AD Cantelmo Property Co I am stress free I live in a different state and this company watches my house and always Mr Tony Cantelmo is on top of things I really want to thank you for what you do for me and I would really Recomend this Company to any and every one Thank You again. Shawn" ------------------- "I need to trust the people I work with and I trust Tony. He stays on tops of things, communicates well, and gets things done. He not only gets things done but he gets things done the right way. Jim"

 

~ Shawn

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