How much rent can I get for my property? This is the ultimate question that every owner wants answered. The real answer is – what will the market bear? I’ll try to answer this question today.
Understanding Market Rate Rent
What will the market bear is not much of an answer. So, the real question is: how much should I advertise my property for? You don’t want to price your property too low, because you want to maximize your investment. You certainly don’t want to price it too high, because you don’t want the property sitting vacant. To successfully price your home in the correct range, we only need to know a few things: how many bedrooms and bathrooms there are; the location of the property; and, the property condition.
Size Of The Home
As a company, we have our pulse on the local market, and we can give you a general starting price point for any home. However, we need to see the home to know what we should advertise it for. We want a price that will generate interest. Obviously, the more square footage you have will lead to higher rents. Additional bedrooms and bathrooms can also raise your rent.
Location, Location, Location
Homes located in better areas will always attract better tenants. The old saying location, location, location holds true for rentals. You’ll get more money if you’re in a better school district, a better neighborhood, and a subdivision that has amenities. These things affect your rental price.
Property Condition
Finally, the condition of your property makes a huge difference in price. The age of the home matters, and so does an updated kitchen or bathroom. Carpet versus hardwood will impact the price, and an overall sense of how nice the home is. Even renters want to live in a great looking home.
We understand the market and can help any owner price a rental. We’ll make sure you get the maximum amount of rent without leaving it on the market too long. Contact us at Atlanta Area Property and Management to strategize the pricing and get your property rented for top dollar.
