How do I decide on a rent amount for my Chattanooga house?
My name is Alex Smith. I’m the team leader for the gkhouses office in Chattanooga. The first question many owners ask is “How do I decide on a rent amount for my Chattanooga house?”
Short answer? It is completely up to you.
At gk, we use two data points to create an expert opinion for our owners and allow them to make the final call.
The first data point is a report called RentRange.
First, we input the number of bedrooms and bathrooms, the square footage of the house, and the address into the site. It then runs the data against comparable past houses on the rental market.
Finally, the site calculates a high, low, and average rent price and a confident score that shows the likelihood of renting at that price.
RentRange also shows trends in the area, such as overall rent increase and decrease.
The second data point is an in-house visit.
Personally visiting the house gives me some context for its overall condition and for the area.
Sometimes pictures and descriptions from the owner do not provide us with a good enough feel of the house. It helps me just to lay eyes on the house myself.
Another benefit of a house visit is putting a face to a name. You get to meet me, and I get to meet you.
After using those two data points, we share our expert opinion with you and set you free to make the final decision. We are happy to market your house at whatever price you think is best.
Our leasing team monitors all of our marketing on a daily and weekly basis. If they think we need to drop the price, then we will ask you before making any adjustments.
If you have any other questions, please reach out. We are happy to help!