How Much Can My House Get For Rent? Professional Property Management in Chandler, AZ

Properly pricing your rental home will have a huge impact on how quickly it rents and the types of tenants you attract. We have a strict process for conducting comps when we are helping our owners settle on an appropriate rental price.

Collecting Data

Our first step is to look up the property on the public tax records and to use the MLS to collect data on the subject property. Then we take a look at the homes on the MLS that have closed within the last 6 months, preferably within the same subdivision. If there are not enough properties to compare, we can go a little outside of that subdivision, but we always want to stay close to that community.

Comparing Size and Details

If your property is a home that is 2,000 square feet with a pool and a three-car garage, you will have a higher rent than a home that is the same size without the pool or the 3 car garage. So it’s important to get as close to the subject property as possible when you’re looking for comparable properties. We look at pictures so we can see if the comparable property has newer appliances or granite countertops, whether the bathrooms are upgraded or if there’s an amazing resort-like backyard. Consider these things when you’re coming up with a rent range for a subject property.

Avoiding Online Estimates

When we talk to property owners, we send them our comps so they can see the numbers for themselves. Often, they see different prices and ranges on sites like Zillow. Zillow will do an average pricing based on square footage, but the site cannot differentiate whether one house has a remodeled bath and granite counters versus a home that has not been updated. Having a Realtor do your comps is highly recommended rather than just looking at an online estimate.

Market Competition

Once we get all of the information and we have our rent range, we then finalize the comparable rate by looking at what the active properties look like in the same subdivision. We want to know what kind of competition is out there. If there isn’t much competition, we will go ahead and keep the rent at the high part of range. If there are several properties and the owner wants to get the home rented right away, wHow Much Can My House Get For Rent? Professional Property Management in Chandler, AZe go to the lower part of the rental range and get it rented to a good tenant quickly.

We do our best to properly price your home and then get it rented with our very aggressive marketing. We don’t charge the leasing fee or management fees until the lease starts, so we’re motivated to get you a good tenant quickly. If you have any questions about our services and how we can secure a tenant for you, please contact us at Arizona Advantage Properties.