If you’re thinking about renting your San Antonio property, the first step is to determine how much rent you can get for your house. Pricing your rental property correctly will attract the right type of tenant and help you maximize your return on investment. The amount you charge depends on a variety of factors, so you may find yourself having a hard time deciding the sweet spot. If you have asked yourself the question “How much rent can I get for my house?”, we can help you find the answer. While there’s no one size fits all when it comes to determining a rental price for your property, we’re here to help you get on the right track.
Set the Perfect Rent Price for Your San Antonio Rental Properties
1. Look at the Market Supply & Demand
As a landlord, it’s critical to examine the real estate market constantly and adjust the rent based on supply and demand. San Antonio real estate market continues to stay current with the national average. As a “seller’s market,” the demand is higher and the supply of homes is increasingly valuable. When home prices go up, people may no longer be able to afford their homes and are forced to rent. The basic rule of thumb is when there is greater demand for your Property, you can charge higher rent.
2. Check Out the Competition
Always do your research. Local newspapers and online ads will have a ton of rental properties in your area. Here are a few sites for researching prices:
This will give you a rough idea of the average rental prices. If you want to go a step further, check out the properties in person and compare them to yours. In San Antonio, the average rent for an apartment is $916, which is higher than last year. Depending on your exact neighborhood and type of rental property, you can charge more or less.
3. Calculate Rental Yield
A successful rental property investment strategy begins with an accurate estimate of rental yield. The gross rental yield is the annual rental income you expect to receive divided by the price you will pay for the property. For example, if you purchase a house for $100,000 and you charge $12,000 a year, the rental yield is 12 percent. The higher the yield, the greater your ROI.
4. Additional Major Factors
Don’t forget these major factors when answering the question, “how much rent can I get for my house?”
- Multifamily vs. single family
- Number of bedrooms
- Number of bathrooms
- Square footage
- Location and proximity
- Lease length
- Inflation rates
- HUD fair market rent
5. Hire a San Antonio Property Manager
Keyrenter Property Management San Antonio will help you make the most of your investment. Our comprehensive property analysis will enable us to negotiate the highest possible rent, and our proactive management system can help reduce maintenance costs.
Get a Free Rental Analysis
Do you have specific questions regarding the value of your rental property? We’re ready to help you make the most of your investment. Our expert team will help you:
- Find out what your property should rent for.
- Learn our process & get answers.
- Get the freedom & peace of mind you deserve.
For more information our property management services, call Keyrenter Property Management San Antonio today at (844) KEY-RENT!