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Property Management Blog

4 Primary Factors that Affect How Much a Property Will Rent For?

Mendell Gosnell - Monday, June 6, 2022

4 Primary Factors that Affect How Much a Property Will Rent For?

One of the first questions that our new clients want to know is how much we can rent their property for. There are several factors that directly affect rental price. Let’s take a look at those Factors.

  1. Condition of the Property: At Centurion, our minimum standard for all of our rentals is Clean, Safe and Habitable. However, the better overall curb appeal and amenities that your property offers in comparison to similar properties is going to be noticed by prospective tenants out shopping for their next place to call home. And the better properties usually rent for more money.

  1. Location of the Property: As they say in real estate, it is all about Location, Location, Location. This holds true in the rental market as much as it does for someone buying real estate. The properties located in the “best” areas are going to rent for a higher premium than others similar in standard but outside of that premiere location.

  1. Advertising: You must have an appealing marketing and advertising offering that is well distributed to all the main channels to reach your target market of prospective tenants for the property you are offering for rent. And good advertising can help to increase the amount of rent you can command.

  1. Market Conditions: This factor is HUGE and one that we can’t control. The rental cycle moves in seasons, so even if you are in a great overall market, but it is the during the Christmas season or the dead of winter, that is going to affect how much you can get for rent when less prospects are looking. Also, if the market conditions result in an over-supply of houses and apartments to rent then that can have a limiting effect on how much you can charge for rent. As we generally remind our clients, we are experts at determining the Market Rent, but we don’t set the Market Rent. We observe the market and respond accordingly.

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Salem Office   |   1365 Commercial St SE   |   Salem, OR 97302   |   503-588-0940
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