There are three factors that establish the rental value of a real estate property and today at FGI Realty we will explain each of them:
Location
We all know that location is important, but especially places close to schools and universities are popular because you have a transient group of people who come and go from the state. Of course, this means that you may not get a high rent.
Another curious note, did you know that rental prices can be related to geography? The sunniest areas with the best views produce higher rents. So if you’re looking for an affordable place to live, you may want to consider moving to a less desirable location. But if you’re looking for a luxurious place to call home, be prepared to pay a premium for the privilege.
Size
A spacious apartment will always attract the most potential tenants. Two bedrooms are especially desirable because a tenant can bring a roommate and cut their own spending in half. In fact, many professional property management companies only list homes with two or more bedrooms for this very reason. And while a larger unit may cost a little more to maintain, the increased rent will more than offset the added expense.
Accessories, Apartments and services
Tenants will be attracted to the condo if there is a washer and dryer in the unit, if there is a pool, if there is covered or contracted parking with the unit, if there are new appliances and fixtures, and lastly, if the unit is close to the beach. The presence of a washer and dryer in the apartment is a professional advantage that many tenants will appreciate.
