Table of Contents
Introduction
Here at Zapien Properties, we actively monitor the rental market every morning to stay updated with pricing trends. Using this knowledge and insight, we accurately set the rent price in a manner that’s competitive for your specific location while also earning the most revenue possible. Setting the rent is a delicate balance. If priced too high, your property can stay on the market for too long and lose money from its vacancy. If priced too low, money will be left on the table. As your property managers, we handle all of the research and rent-setting so you don’t have to. Contact us today at 408-449-6888 to earn the most with your property!
Our Price
Setting the rent is a service freely included with all of our Property Management Packages, keeping your property’s prices competitive and relevant to modern pricing.
Importance of Setting the Rent to Market Value
1. Maximize Profit
Since rent steadily increases virtually every year, setting the rent to modern market prices usually helps earn more profit.
2. Out Compete Competition
Setting the rent allows us to out-compete other landlords if necessary. For example, if the rental market is slow with few prospects looking for rentals, properly setting the rent helps attract applicants out of the few available.
Our Process for Setting the Rent
1. Research Physical Area
The physical area is researched to collect average rates for your location.
2. Compare Similar Properties
Aside from physical location, rental prices are collected from similar housing structured, such as one bedroom, two bedroom, apartment, and condo properties of similar size.
3. Consider Repairs or Enhancements
Your property is analyzed to see if repairs or enhancements can be taken to increase the property’s rental value, and in turn help us earn more rent monthly.
4. Setting the Rent During Vacancy (avoid rent control)
According to San José Municipal Code section 17.23.310, a landlord may only raise rent by 5% yearly. This is why, if a property is far behind market-rates, setting the rent to modern rates is accomplished during vacancy.
Why Choose Us
Expertise:
We’re proud to be a certified property manager in California who handles over 160 rental units, while also managing over $500,000 of monthly rent on behalf of our clients/landlords. After years in this field, we’ve become a part of organizations such as NARPM (National Association of Residential Property Managers, SILVAR (Silicon Valley Association of Realtors), MLS (Multiple Listing Service), CAR (California Association of Realtors), and The Property Network (our parent brokerage).
Customization:
We understand every landlord has different preferences and carefully listen to what they are. As your property manager, we customize your lease to fit your preferences for things such as:
Lease term, lease type, pet policy, and tenant screening requirements, amongst other things.
Client Support:
We pride ourselves in providing our clients with the best support. No time is ever too late to call us and no question is out of our experience’s reach.
Satisfaction Guarantee:
We guarantee your satisfaction with our service, and if you aren’t, we’ll do everything in our power to make it right. We consider ourselves to be fair and reasonable professionals, and are always ready to listen to our clients’ needs.
Conclusion
In conclusion, setting the rent is a tedious task requiring market-research and comparisons of similar units within a same area. As your property manager, we always ensure your rental property’s rental rate is up to date to maximize your profitability. We routinely raise rents when necessary to stay relevant with modern rates and earn the most possible. Assigning rental rates is a service we provide for free with all of our Property Management Packages. See all other free services we provide with our Property Management Packages here. Contact us 24x7x365 at 408-449-6888 for any questions you might have and we’ll try our best to answer them for you. We look forward to managing your units and helping you earn more!