When I visit a property for the first time, I have already done 75% of my research on the property before I arrive. I have researched school district boundaries, local amenities, HOA presence and other facets of the property. So, when I pull up and meet the owners for the first time, I am armed with good data. Data is extremely important when pricing a property for the rental market.
Once I have arrived, I am looking at the condition of the home, the condition of the neighborhood, and anything else a potential tenant would consider important. I am looking at the property through a prospective tenant’s eyes. Once I have done a thorough and calculated review of the property, it is time to discuss the most important detail to the owner: the rental price. If we consider that average monthly rent in Northern Colorado is $1200, we know that for every day a property sits vacant, the owner is missing out on $40. That can add up quickly and become problematic if the property is priced too high.
Fortunately, many of my owners are surprised (or relieved) about the prices I quote. So, the question is, how are we able to get a premium price for a property? One key to getting the highest price is a well-positioned marketing program. The more prospective tenants you can attract, the quicker a property can be occupied.
At the end of the day, setting the price of a property takes an experienced person who understands the Northern Colorado rental market. If you have a property in Fort Collins, Loveland, Windsor, Timnath, Wellington, Greeley, or the surrounding area, contact us for your property management needs today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
