How much will my property rent for

We are asked this question more than perhaps any other. Of course it depends on a lot of factors:

          – supply and demand

          – condition of the general economy

          – interest rates

          – the ebb and flow of the sales market

 Generally, the more square footage, or larger, your property, the lower the cost per square foot rental value. For example, a 1,200 square foot home may rent for $1,200 to $1,400 per month in Antioch depending on the neighborhood, the competition and the condition, while a 3,000 square foot home may only rent for $2,200 to $2,500. 

CORRECT PRICING Even the best and nicest properties will not lease quickly if overpriced.”

 The most important thing to know is that:

  • the rental market is indifferent to what you paid for your property and to your mortgage payment amount.
  • the rental market does not care that you might have a negative cash flow, and will punish with extended vacancy owners who overprice their rental homes.
  • the rental market does care about condition and amenities, and will look favorably with higher rents and shorter marketing times for those owners with many amenities and superior condition. 

THOROUGH PREPARATION Even the best located and well priced rental homes will not lease quickly in our market if the rental property is not in top showing condition.”

When you hire First Realty / Pryor & Associates as your property manager, we will: look at the rental market in your particular area; survey the competing homes; and make sure your property is priced so that it will be viewed favorably against the competition.