Revolutionized Real Estate
Property Management
Rental Property Pricing
1 % RULE
Many landlords use the 1% rule to determine rental rates, where rent is set at 1% of the home's value. For instance, a home valued at $220,000 would typically rent for $2,200 per month.
- Setting the rental price involves considering various factors like the local rental market rates, changes in market conditions, and additional offerings such as furnished options, utilities, and parking. Beyond the property's features, rental prices can also be influenced by the neighborhood and nearby amenities.
Collecting Rent
Rent
After establishing the appropriate rent amount, it is crucial to decide on the most convenient rent collection method, whether online or offline, based on tenant preferences. We cater to a wider range of tenants, offering various rent collection options .
According to the Housing Trends Reports survey, 58% of renters prefer online rent payment, yet only 36% have access to this method. Consider other rent collection alternatives as well.
Repairs & Maintenance
We utilize a basic spreadsheet to budget for repairs, maintenance, and utilities. We allocate approximately 50% of your rental income for repairs, considering that maintenance costs typically amount to around 1% of the property value annually.
Additionally, we estimate the expenses for gas, electric, water, sewer, and garbage if they are included in the rent price when your property is leased.