{"id":325,"date":"2017-06-22T12:42:07","date_gmt":"2017-06-22T16:42:07","guid":{"rendered":"https:\/\/www.clearnow.com\/blog\/?p=325"},"modified":"2017-06-22T12:42:07","modified_gmt":"2017-06-22T16:42:07","slug":"confidently-setting-rent-prices-for-your-property","status":"publish","type":"post","link":"https:\/\/www.clearnow.com\/blog\/2017\/06\/22\/confidently-setting-rent-prices-for-your-property\/","title":{"rendered":"Confidently Setting Rent Prices for Your Property"},"content":{"rendered":"

(The following is a guest post from Rentometer<\/a>.\u00a0 Rentometer<\/a>\u00a0is the fastest, easiest way to compare rents anywhere in the U.S.)<\/p>\n

The rental housing business is very local and it takes time and effort to understand a local market and all the nuances that go with it.\u00a0 Many variables can impact the rent you can charge for your rental unit including: location, building structure, amenities, age of unit, market conditions, etc.\u00a0 The subjective and local nature of many of these variables make it difficult for anyone to tell you exactly the right rent for your rental unit.<\/p>\n

However, having said all that, there are some things you can do to help you more confidently set your rents. Below are a few ideas to help you set\u00a0rents for your rental property:<\/p>\n

    \n
  1. Stay up to date on local economic and business activity in your market because economic activity is one of the key drivers of housing demand including rental housing.<\/li>\n
  2. Work with local real estate professionals \u2013 property managers, brokers, agents, appraisers, and lenders. Local experts are especially good at identifying the drivers of housing supply and demand unique to your market \u2013 jobs, local ordinances, zoning, etc.<\/li>\n
  3. Check local apartment listings using the local newspaper, apartment guides, CraigsList, and of course Rentometer (shameless plug!).<\/li>\n
  4. Check your local apartment or rental housing association for research and other information they may provide about local rent levels \u2013 past, present, and future.<\/li>\n
  5. Use \u201crent per square foot\u201d whenever possible as a benchmark.\u00a0 This allows you to encapsulate into a single number all the subjective variables of rent and provides you a basis for comparison across different units, locations, amenities, etc.<\/li>\n<\/ol>\n

    The task of setting rents can be done more confidently with good current and historical data, as well as a thorough understanding of the local market and current market conditions.<\/p>\n

    Rentometer<\/span><\/i><\/a><\/span>\u00a0is the fastest, easiest way to compare rents anywhere in the U.S.\u00a0<\/span><\/i>Rentometer\u00a0<\/span><\/i><\/a><\/span>uses advanced technology and data management tools to provide a thorough rent comparison analysis within seconds, for any address in the U.S.\u00a0<\/span><\/i>Rentometer<\/span><\/i><\/a><\/span>\u00a0also offers premium subscription services for professional users that need more information and services to help them build and operate their rental housing businesses.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

    (The following is a guest post from Rentometer.\u00a0 Rentometer\u00a0is the fastest, easiest way to compare rents anywhere in the U.S.) The rental housing business is very local and it takes time and effort to understand a local market and all the nuances that go with it.\u00a0 Many variables can impact the rent you can charge … Continue reading “Confidently Setting Rent Prices for Your Property”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-325","post","type-post","status-publish","format-standard","hentry","category-guest-post"],"yoast_head":"\nConfidently Setting Rent Prices for Your Property - ClearNow Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.clearnow.com\/blog\/2017\/06\/22\/confidently-setting-rent-prices-for-your-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Confidently Setting Rent Prices for Your Property - 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