STOCKTON, CA. – One of the top questions that every landlord has especially after they’ve purchased a new rental property in the Central Valley is how much should I charge for rent?
Although the answer to this question is different depending on who you ask, the truth is that coming up with the correct rent to charge for your rental property is actually a lot easier than you think if you follow these simple steps.
Step 1 – Analyze Local Rents
Depending upon where your rental property is located in the Central Valley, the first step to determining what you should rent your property for is to analyze rents in the area and this can be done based on data that can be found on websites like: Zillow, Rent Jungle and Rentometer.
Step 2 – Think like a Renter
The next step that you need to follow to come up with the correct rents for your rental property is to think like a renter and actually take the time to visit one or more rental properties in your area at to find out what those properties are renting for each month, how many bedrooms/bathrooms/square feet they offer and what amenities those properties are located close to.
Step 3 – Write down The Benefits Your Property Offers
After taking the time in analyzing other properties for rent in your area, the next step is to sit down to write all the benefits that your rental property has to offer a typical renter.
Some of the benefits that your rental property might also typical renter include following:
- Your rental property is quiet.
- Offers a lot of storage space thanks to a garage, attic or basement.
- Is located close to the university, restaurants, shops, stores, or amenities nearby.
Once you have a complete list of all the benefits that your property has to offer a typical renter the next step is to take the time to practice writing a rental ad which includes a competitive price and of course the benefits or amenities that your rental property can offer them.
Rent Your Central Valley Rental Property
Save time and money with property management! Contact the Central Valley Property Management Experts at RPM Central Valley today by calling us at (209) 572-2222 or click here to connect with us online.