- A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
How do you determine the price my property should rent for?
Pricing a property for rent is not that much different than
if you are pricing a property to sell, you look at the market price and go from
I wrote an article on the steps I go through when renting a
property "How to price a home for rent" and it’s more than just finding the right price. It is also important
to understand the owner’s financial state and also their state of mind.
I like to push the price of my rentals as much as possible,
but that may mean that the property is on the market longer then if it were
priced more to the market price.
Understanding how the owner feels and the urgency they have
in getting Tenants in the property will determine how I price the property.
Lets look at an example
Lets say we are renting a home and the comparable properties in the area rent for $2000.00
I may want to put a price of $2100.00 to start, but if that means that the property will be on the market for an extra 2 weeks, I have to find out how the owner feels about that.
If the owner is not worried about having the property vacant for a longer period of time, no problem, but if finacially, the owner is not in a position of missing out on an extra 2 weeks rent, then I price the property at $2000.00
This is just a simple example, but it is very important to understand what situation the owner is in at the time I am renting their property.
A.D. Cantelmo Property Management Specializes in Property Management in Orange County