Mendell Gosnell, CPMPrincipal Broker, Centurion Real Estate Services · Helping Real Estate Investors Build Generational Wealth Through Smart Property Management | Branch Offices in Salem, Corvallis, Eugene and Redmond.

How Much Will my Salem Property Rent For? Professional Property Management Advice

22 Jul 2015 · 3 min

Watch on YouTube

2:50

In this video, Mendell Gosnell of Centurion Real Estate Management explains how to price a rental property effectively. He emphasizes the importance of conducting a comprehensive market rental price analysis to set the optimal rent that attracts tenants quickly while maximizing investment return. Gosnell outlines three key reasons for thorough market analysis: the market’s frequent changes, the need to listen to market signals rather than set rent arbitrarily, and the goal of maximizing ROI. He then provides three practical tips: objectively assess the property’s location, amenities and appeal; compare multiple comparable rentals to narrow a price range; and monitor advertising response—call volume and days on market—to adjust rent promptly if needed. The video concludes with a promotional call to action, positioning Centurion Real Estate Management as experts who can handle the art‑and‑science of rental pricing for clients.

Chapters

Hi, my name is Mendell Gosnell with Centurion Real Estate Management, and today I'd like to talk to you about how to price your rental property. What will my property rent for? is one of the questions that we hear often. It's a great question and one that I'll hope to address in this video. We often tell our clients that it's really important to do a comprehensive market rental price analysis in order to determine the best rate for for your rental property. And setting the price, the best price in order to rent your property for the best price in the least amount of time, that's the real key there. If it has prolonged vacancy, it really negates trying to capture such a high amount. 3 important reasons for doing a thorough job in analyzing the market to decide on the best price point for your rental are: number 1, the market changes often. Number 2, you really don't set the rent, but you analyze the market, listen to what the market is telling you, and respond accordingly. And number 3, in order to maximize the return on your investment. As a professional property management company, uh, we can really be invaluable and really earn our commission in this one area alone. Lastly, 3 tips to help you, uh, determine the best price are: number 1, 1. Analyze objectively what your rental has to offer in way of location, amenities, overall appeal, and other factors. 2. Look for several comparables that will help you narrow your rental range. 3. Once you begin your advertising, evaluate the call volume, the days on market, and be quick to adjust your rent down if it looks like you're not likely to rent up in a timely fashion. So determining how to price your, your rental is definitely part art and part science. It's one of the things that we do particularly well here at Centurion Real Estate Management. We're very proud of that. We'd be happy to help you. Give us a call today if you have more questions. Again, thanks for watching and happy investing.