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Debi Lane,  in Mississippi

I'm wondering how some of you property management agents determine the rental value of properties you manage?

Asked by Debi Lane, Mississippi Tue Jul 14, 2009

Any advice/suggestions I would love to hear. I'm interested in getting into some property management potentially.

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Answers

3
Shirley Kappa’s answer
Both responses below are correct. However, the condition of the property (i.e. updates), the amount of lawn care, the availability of rentals in the area, and other factors also play into pricing a rental. If there are an abundance of rentals...you might have to settle for a lower rent. If rentals are scarce...you can try for the higher end of the rental market for the area.
0 votes Thank Flag Link Thu Aug 11, 2011
The typical process involves checking on the rental rate of at least 10 recently rented comparable units. h
0 votes Thank Flag Link Fri Oct 23, 2009
You have to search was typical in the area were the house is located, then check with the owner of the property if that is a realistic amount to cover mortgage payment, insurance, taxes, your comission and a cushion for maintainence. Let them know that their taxes might you up from the ones they have now (here they go from owner occupant 4% to 6% as non owner occupant).
Some people have higher expectancies for their properties, say if the house is located in a modest neighborhood, it is less likely that you would get a very high rent because the socioeconomic makeup of the area would not support it.
0 votes Thank Flag Link Tue Jul 14, 2009
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