If you're interested in having us manage your house or vacation rental. We'll do all the research and set rents for you. Let us know.

Pricing your rental can be hard. We've included a few pointers to help.

Association Fees

We generally recommend that the landlord pay for any hoa fee. The hoa generally carries some type of insurance usually an ho6 policy an it's worth making sure this is always paid and doesn't lapse. Additionally hoa's are allowed to levy fees and put liens against the property which can have dire consequences for the owner.

Utilities

All utilities can be required to be paid by the tenants. We recommend that the landlord pay any utility that cannot be easily split up. For instance if water is not separately metered to each apartment, we recommend the landlord pay the water. We support if the landlord wants to set a monthly fee to recoup some of the cost for the utility. We do not support splitting up the billing after the fact and billing the tenants for their portion. This becomes a huge hassle. It's up to the landlord on any utility that is separately metered to the property. The landlord should keep in mind that there are laws in most states requiring that the property remain in a livable condition and the consequences of having any utility shut off, usually means the property is not considered to be in livable condition under this laws.

Do Your Research

There are plenty of place to find current places for rent. Do your research and even call up potential landlords to see what type of leases and amenities they are offering. Target places that have a similar number of bedrooms, bathrooms, and square footage as your property. The goal is to establish a price range. The easiest way to do this is to keep track of the lowest you've seen a property like yours listed for and the highest list price.

Shoot for a Middle to Upper Middle Price Point

It's important to realize that not having the property rented generally costs you a lot. In most cases when you run the numbers it's worth not waiting around to get the highest rent from your property, because it may mean it will sit vacant. Setting the price at a middle price point should mean there will be plenty of potential tenants willing to rent it. Not having the highest priced property can also provide a small portion of protection if the market contracts.

The Price is Ultimate Set by Someone Paying it

If you list your property on commonly used avenues and receive very little interest, it is most likely not the right price. If you receive 4 to 10 quality applications, you're probably in the right range. Conversely, If you receive hundreds of quality applications it may be time to consider raising your rate.