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Property Management Blog

How Much Can I Rent my House for? Denver Property Management Advice

Web Admin - Tuesday, November 28, 2017

Let’s talk about the question that always comes up: how much can I rent my house for? One of the things people do on their own is get on the internet and find some rental values that are probably not accurate. Many companies listing these values are doing it on the basis of value per square foot. This is different from zip code to zip code and city to city. So, it’s very a broad brush and it really doesn’t provide an accurate picture of what you might get for your property. We take a different approach.

How Much to Rent my House for

In addition to checking online, we look at our own comparables, and we rely on our local knowledge of what’s going on in the metro area. So, when we talk about how much money you can get, it is based on some pretty hard numbers, which helps you. The other thing to consider is the condition of the property and the way the interior looks. If it has been updated, you can charge a little more. To properly evaluate your home, we have to get inside and take a look at it so we can make sure we’re comparing apples to apples.

Internet Advertising and Pricing

Setting the price is not just a matter of going to the internet and picking the first price you see. That won’t get the property rented for the correct value. Getting your property rented correctly requires that you know its value. You also need to understand internet advertising. That allows for pictures and pricing and all the other things that go along with online advertising. A tenant can immediately respond when they see a listing online. We respond to their inquiry the same day, indicating what the prospective tenant needs to do to see the property and other requirements. This gets the process started. 

The value needs to be realistic. If the price is too high, the home will sit vacant, and you won’t earn any revenue. A proper price gets a tenant in there quickly, and with an average stay of three years for our tenants, your turnover costs are at a minimum. 

Thanks for joining me. If you have any questions about how much rent to charge, please contact us at Meer & Company, and we’d be happy to help you.

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Meer & Company, Inc.
4545 East Colfax Avenue
Denver, CO 80220

Phone: 303.322.1550
Fax: 303.322.1583