How Much Rent Should You Charge in Chandler, AZ? Renting Quickly, Part 1

Renting out properties quickly to good tenants is a great way to maximize what you earn on your investment. We are often asked how we manage to rent our properties out so quickly. There is a multi-faceted approach that we have to leasing, and we’re sharing some of those tips in this four part blog series. Today, during Part One, we’re talking about price and how much rent to charge.

Determining Target Price

Price is important, and you have to find just the right range. You don’t want to leave money on the table by pricing the property too low, and you don’t want to price your property too high so that the home just sits on the market, vacant. A good property manager will conduct an analysis of similar properties and come up with some comparables. This will help you determine a great target price, and it starts you off on a good foot.

Vacancies Cost More

If your property manager suggests leasing your home for $1,900 per month, but you want to hold out for $2,000, that’s your decision. You can try it. However, if the property sits vacant for two months before you finally find someone willing to rent it, you have lost money. With your higher rental price, you may have gained $1,200 for the year. But, you lost $4,000 in those two chandler az how much rent to chargemonths of lost rent. So the higher price is not always the best price. Finding a target price is important. You will get a good tenant into your property quicker. That tenant will take care of the property and help you make money faster. If you have any questions about rental property pricing or property management in the East Valley, please contact us at Arizona Advantage Properties. Please make sure to tune in for Part Two of this series as well.