Are you searching for information on how to set the rent for your Portland Oregon rental property? If so, you come to the right place!
Setting the rent for your property can be one of the most challenging aspects of being a landlord because of the simple fact that if you overprice your rental and ask too much, your property could sit on the rental market for a lot longer than you initially imagined until you have to lower the listed rent for the property to attract tenants.
If you ask too little rent for your Portland Oregon rental property, the opposite is true, you may not have enough money coming in every month to cover all of your expenses.
Thankfully, with the wide variety of available online tools that you have available, you can research the rental market where your property is located and come up with the best price that you should rent your property for every month.
Do A Comparable Analysis Of Other Rental Properties In The Neighborhood
The first thing that you need to do when figuring out what you should charge for rent every month is to do a comparable analysis of other rental properties in the neighborhood to find out what you should rent your property for.
Instead of using just one website to look up rents for the area where your property is located, you should use a wide variety of websites including realtor.com, trulia.com, Zillow, and Craigslist.
Having a diverse selection of data to choose from will give you a really good perspective of what properties in the area are renting for.
If you want deeper analytical data, including information from other landlords in the area, you may want to consider using websites like rentalometer.com and smartasset.com to provide you with the data that you need to set the correct rent for your property.
When analyzing other properties for rent in the neighborhood, pay close attention to what the landlords for those properties are asking for rent, and the deposit, including how many bedrooms, bathrooms, amenities, and square footage that those properties have.
Contact Property Management Systems
At Property Management Systems, our property management team will save you the time, money, and hassle of managing your Portland area rental property yourself.
Besides helping to set the rent for your property so that it runs for the correct amount, you can count on us to also provide you with property management services including rent collection, maintenance, customer service, accounting and so much more.
To learn more about the services that we can offer you, contact us today by clicking here to connect with us online.