Setting the right rental price is one of the most important decisions a landlord can make. A well-priced property attracts the right tenants faster and maximizes your return. Price too high, and your listing may sit empty. Price too low, and you leave money on the table. This guide outlines how to price your rental property and key factors to consider.
Research the Market
Start by reviewing similar properties in your area. Look for “comps,” properties with similar:
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Location (same neighborhood or nearby)
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Size (square footage, number of bedrooms/bathrooms)
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Amenities (parking, in-unit laundry, pet policies)
How to do it: Visit Furnished Finder's map search, enter your city or zip code, and filter for properties that match your rental's characteristics. This will help you establish a market baseline for setting a competitive price.
Adjust for Season and Demand
Prices can fluctuate with local seasonality and events. For example,
- In ski towns, winter is high season.
- In beach towns, summer rates spike.
- Major events (festivals, conventions, sports tournaments) can increase temporary demand.
Use Furnished Finder's Traveler's Demand Data Tool to see how many travelers are looking for housing in your listing's location. Just enter the city and state and review the number of map searches, listing page views, and how many rentals there are. Adjust your pricing monthly or quarterly to account for seasonal shifts.
Know Your Costs
Calculate all property expenses (mortgage, taxes, insurance, maintenance, and utilities) to ensure your rent covers costs and still provides a profit. You can charge a bit more if your rent also includes internet and trash. Estimate the average cost of these and decide if you want to include them in the rent or charge a flat monthly fee.
Set a Nightly Rate for Planning
Even for 30+ day stays, a nightly rate helps you plan and estimate value.
How to calculate:
- Determine your desired monthly income.
- Divide by 30 to find a base nightly rate.
- Multiply by your expected occupancy rate (e.g., 80% = 24 nights/month).
If your monthly target is $2,400, your base nightly rate is $80. To adjust for lower seasonal occupancy, you may want to raise the nightly rate or lower it in off-seasons to stay competitive.
Consult with the Furnished Finder Team
After you've purchased a listing, we also offer a premium service called Listing Setup to help you build and publish your listing. Our Listing Specialists will provide you with hands-on expert guidance and direct support for a listing that is optimized to attract quality tenants with solid market analysis and pricing information.
How to Edit Your Pricing
To change or edit your rental pricing,