Landlords and investors frequently call us, frustrated because they don't understand why they are having a difficult time renting their homes in 2024
5 Step Process to Explaining This
Review market data and statistics
prices down from last year in MLS on asking rent and closed rent
Zillow shows no change
condos and apartments significant reductions 10% asking
offering incentives and move-in specials, two months free rent
Landlords often try to price their properties to cover expenses or achieve a desired profit margin. However, there's no correlation between what landlords want and what renters are willing to pay. The market doesn't care about a landlord's expenses or hoped-for profit.
More important than ever.
There is More supply, lower demand and competation
fresh and sparkle, updated all over to be able to compete
need comprehensive marketing…that's where we come in
considering offering move-in incentives. Many are offering, more will. 1-2 months of free rent
Be conservative and aggressive with your rental rate. Prices have gone down since the market went up drastically. It is in correction…so you can price like you are in a hot rental market like we were before. Prices in many areas have already returned to where it was 2 -3 years ago.