Revving Up the Rental Engines

By
Services for Real Estate Pros with Homepointe Property Management

Here is Sacramento the sun is shining and the heat is coming in waves. Mid to high 60's projected all week long. With the rental market at a steady pace now that the holidays have passed, typically we begin to see the rental market heating up. When the weather is warm tenants like to get out, look at available homes, and start thinking to themselves, "Is there a better property for me out there, and if so can I pay less for it?" It is imperative to be competitive with pricing or the vacant home will lose hundreds if not thousands in rental income as it sits waiting to be reduced! We must be aggressive and talk to our clients about the rent they are missing out on if the property is vacant. Sometimes reducing the rent $25 or $50 will attract more interest, and more qualified tenants, AND cause the property to be rented. This could save the owner $30, $40, $50 (for example) PER DAY!

Comments (1)

Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Andy * I'll take over-priced rental listings IF I can reduce the rent $50 every 2 weeks until it is rented....the sooner it is rented the BETTER!

Jan 30, 2012 05:47 AM