Pricing your rental property in Charleston is actually quite a bit of fun. It allows us the opportunity to see how your property compares to others, not only in your neighborhood but also in surrounding neighborhoods.
We start by running a market analysis of your property. First, we look at all the options available to a prospective tenant. This includes evaluating square footage, the number of bedrooms and baths, and anything else the property has, such as a bonus room. Then, we check out how those options stack up against other homes in that city, that area, that subdivision and even that street. We also determine what kind of neighborhood amenities there are and compare them to similar amenities in surrounding neighborhoods. We look for pools, golf courses, parks and other things when we complete a market analysis.
Actual Rental Prices
Then, we work on finding actual rental prices for that area so we can determine what to charge a prospective tenant. It’s important to consider how long a home has been on the market. If it has been there for some time, it may be because of the price. Pricing a home too high can result in a longer vacancy. Whether you’re a new landlord putting your property on the market for first time, or a homeowner looking for someone to take care of your property and get it rented, the same rules apply.
To get the most money for your investment, we follow our process and establish the best possible price for your home. It’s part of our job.
If you have any questions, or you need help pricing your property, please contact us at Lowcountry Property Management and Sales, and we’d be happy to tell you more.