How Much Can I Rent My House For?

Today, we’re discussing rent levels and what you can expect to get for your rental property in Salt Lake City. This information is crucial for investors and owners to have before they buy a property or list it on the rental market.

Rental prices are influenced by location

Rental prices, like any other real estate or commercial business, are heavily influenced by location. When a property owner asks me how much they can charge for rent, the first question I ask is about the property’s location. It has a huge impact on how you price your rental.

Rental prices are dependent on the property’s size

Next, your price will depend on the number of bedrooms you have. The number of bathrooms is also important, but tenants primarily look for enough bedrooms to fit their families. Square footage and bedroom count are almost as important as location.

The condition of the property affects how much rent you can charge

Finally, the condition of the property affects how much you can charge in rent. Tenants look for clean, functional kitchens and expect to see some updates. As a house ages, it incurs wear and tear, which can drive your rent down. Many owners are reluctant to spend money on updates and improvements, but it’s worth it in the long term. A house that looks worn and old will rent for much less than a modern, clean one. If you don’t upgrade from time to time, you’ll lose rental income.

Take a look at what your neighbors are charging for rent. If you’re getting less than they are for a property of the same size and in the same location, it’s likely due to the home’s condition, and you should consider investing in some improvements.

If you want to discuss what you can expect for your particular property, please contact us! We are a Salt Lake City property management company, and would be happy to provide more information about current rent levels in your area.