Agent FAQs: What is the rental value of my client’s property?

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This blog post is part of an Agent FAQs series. Over the next few months we will address topics that can help real estate agents maintain positive working relationships with prospective buyers and sellers who aren’t quite ready to buy or sell.


Is Selling Right Now Best for Your Client?

Like Charleston Home Rentals, real estate agents are sincerely committed to doing what’s best for their clients. Sometimes this means postponing a listing opportunity when the homeowner wants to wait for values to increase, decides to retain a property as an investment or prefers rental income over sales profits. Renting a home is a great solution in all of these scenarios. And since money is generally a motivating factor, most agents (and their clients) need to accurately calculate how much a property will rent for.
 

Click the image above to view a sample Comparative Market Analysis (CMA)

Click the image above to view a sample Comparative Market Analysis (CMA)

Calculating Rental Value

Charleston Home Rentals (CHR) considers many factors when calculating rental value:

  • Our current portfolio
  • Location
  • Time of year
  • Property specifics and upgrades

CHR manages hundreds of properties and has first-hand knowledge of comparable properties. Through comparison of properties we currently manage, an accurate rental range can be provided. Visiting a property helps to ensure the accuracy of calculation, but estimates without it can be provided.

CHR will provide your client with Rental CMA Documentation—a summary of our comparative market analysis that includes all factors considered as part of the rental range calculation.
 

Setting a Price & Renting the Property

It's important to always strive to meet your client’s desired occupancy date while also attaining the highest rental amount possible. Specific recommendations about the rental price given current market conditions and client goals should be made. Carefully calculated price points and aggressive listing promotion are crucial to minimize vacancy time.
 

Calculate Rental Value for Your Client

Contact us for a no-obligation rental analysis. Submit the property address and your/your client's contact information online. Rental value will be calculated in one business day, and we will email you and your client with the results.