How to Properly Calculate Rental Rate in San Diego | RentSimpli
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How to Properly Calculate Rental Rate in San Diego

How to Properly Calculate Rental Rate in San Diego
December 11, 2020Propety Management

How much can I rent my San Diego property for?

We get asked this question all the time.

RentSimpli is a full-service San Diego property management company specializing in single family homes, townhouses, condos, mobile homes, small commercial buildings and small apartments. We can help you establish a competitive and profitable rental value for your property. We also service Temecula, Murrieta, and Menifee.

Understanding Your San Diego Rental Market Value

At RentSimpli, we analyze market data to understand the latest trends and shifts of the San Diego rental market. You have to understand your home’s market value, and then calculate what the rental value is based on the property’s size, condition, location, and amenities.

We have a strategy that allows you to avoid vacancy and find the best qualified tenants. Once we conduct a thorough market analysis and consider the value of your rental property, we schedule a time to view your home in person. This enables us to personally view possible upgrades you may have as well as neighborhood conditions. Once all of this is completed, we will provide you with the market rental rate.

Depending on the season, we may recommend pricing your property at five percent below the market rental rate. This might seem like the opposite of what you want to do – isn’t it important to earn as much income as possible every month? Yes, but more important is that you find a reliable, stable tenant quickly. Implementing this strategy positions your property to be highly attractive to potential tenants. High quality tenants rarely overpay for a rental property and they are quick to act. Ultimately, this earns you more in the long run as it decreases your vacancy time.

Working with San Diego Property Managers Before You Invest

Smart investors will contact a San Diego property management company before they buy a rental home. It is best to know what your rental property will earn before you buy. Otherwise, it is challenging to accurately establish whether this will be a good investment for you.

A good property manager will know the local market and help you get an accurate idea of what you’ll earn. We can advise on the monthly earning potential, how long it will take to get the rental property ready for market, and what you can expect to spend on maintenance, repairs, and cosmetic upgrades. It’s an important part of any good investor’s acquisition plan.

RentSimpli is a full-service property management company serving landlords, investors, and property owners in San Diego and Riverside Counties, including La Mesa, El Cajon, Chula Vista, Santee, Rancho Bernardo, Escondido, Fallbrook, Temecula, Murrieta, Menifee and more. If you have questions related to property investments or San Diego property management, please contact us.



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