When comparing two similar rental properties in the same area, several factors can lead to one renting better than the other:

Certain things are out of your control, such as layout, location, neighborhood conditions, and, in most cases, the time of year.

This is a list of items that are in your control:

• Property Condition:

  • Renovations, Updates and Upgrades
  • Maintenance and Cleanliness
  • Curb Appeal
  • Neutral Cosmetics

• Amenities:

  • Appliances offered (Washer, Dryer, Refrigerator are a plus)
  • Extra Storage options

• Allowing Pets:

  • Increase demand through broader market appeal.
  • 70% of renters have pets, and 90% of properties allow pets.

• Seasonality:

  • You may or may not have the option to control when your property needs to go on the market.
  • April to July is the peak season.
  • August to March is the slow season.
  • The same property should rent for a better price and less time in peak season compared to slow season.

• Competitive Pricing:

  • While both properties may be similar, pricing is one of the biggest factors that motivates a renter to apply.
  • Competitive and conservative pricing will create more renter demand, causing it to rent faster.
  • Renting at a more conservative price in under 30 days will get more end-of-year profit than trying to rent at a slightly higher price, causing the property to sit vacant for 2-4 months.

• Reputable Full Time Property Manager

  • A well-established professional property manager representing your property makes it easier for renters to decide to rent your home. Renters want the process to be easy for them from start to finish.
  • Effective marketing attracts more renters.
  • A full-time company can make it easier for renters to view the property and submit applications.