A Razor’s Edge Can Make All The Difference With Your Investing…
February 25th, 2010
This post is not about “student rentals”, it’s about the day I realized that making assumptions using the most obvious observations or appearances can cost you money…enjoy! Oh yeah, it was cold and Nick had a close call with a car that was driving by!
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Hi,
Great Video!
On a similar concept,
Time and time again, in my experience, market research is over looked in a big way! As the new hype phrase states,
“money is being left on the table”.
Never charge what you think the rents should be. Always charge what the market is asking for, well maybe a little less to rent quicker or to keep the tenant for the long haul.
Most people think market research is hard and you have to hire someone and …. but its not.
Pick up newspapers, a renters guide, there may even be a renting site for your city check the internet. Now go through the material and check out what the rents are in the area your properties are in. Now compare the two, what you are charging to what everyone else is asking for.
This is a really good habit to get into. The next time you waiting for someone in a coffee shop pick up a newspaper and check out the rents in the area your properties are in.
This will ensure you are charging the correct rent for your property and you maybe surprised!
My buck 50,
SDC
Winnipeg
We couldn’t have said it better ourselves….100% agree SDC!