Your property is more than a home, it’s an investment, and like any investment it’s important to maximize your return. One of the most common mistakes we see owners make is listing their property at the highest rental price they see on the market. Here’s why that’s a bad idea

When you list your property the only thing that should be on your mind is finding a tenant and filling the vacancy, period. For every month that a property sits vacant your return diminishes as you continue to pay the mortgage, utilities, and other expenses out of pocket, costs that will never be recouped. Tenants are simply not willing to pay more when they can rent a similar unit at a lesser cost. That’s why it’s important to price according to what the market supports. 

Units held above market value only rent 5% of the time without a price adjustment to bring the unit within market value, incurring additional costs while sitting vacant. Units listed using our pricing structure, however, have an 80% success rate of finding a quality tenant and filling the vacancy within 2-3 weeks.

Once you have a quality tenant in your property you can adjust the rental price according to the market, meaning you won’t lose out on any income for renting within the actual market range. In fact, you will actually see higher annual returns by renting for less and avoiding vacancies. You will, however, lose money holding a property at a price that the market won’t support. This is why constantly analyze the market and list according to what’s renting, not what’s sitting empty. 

‍

We want your property to be as profitable as possible!

‍