At CRM Properties, we often get calls and questions about how we determine what a property will rent for. We also get many owners who tell us they want a certain amount of rent for their property.

We have a process to determine what a property will rent for, and getting that amount right is very important.

Gathering Market Data for Comparative AnalysesGathering Market Data for Comparative Analyses

By managing nearly 500 properties in our market, we’re the rental property pricing experts. We know how long it takes for a property to rent and we know what the public is willing to pay for a home. In addition to that, every single property that we manage is classified in our software based on its location. We have to consider the property’s city and neighborhood. When we’re listing a new property on the market, we have comparable homes to consider when we’re pricing.

If a home has three bedrooms, one bathroom, and 1,000 square feet on the south side of Kokomo, we can see whether we have similar properties in our database. This helps us support the rental value we believe the property has earned.

Pricing and Time of YearPricing and Time of Year

We look at other variables that will play an important role in determining rent amount, including the season. Obviously, early summer and spring will bring you rents that are a little higher than what you can get in fall or winter. Families won’t want to move during the school year and people are less likely to move when the weather is cold.

Consider Property Amenities and UpdatesConsider Property Amenities and Updates

We also look at the amenities of the property. Is there something that stands out and is different about this property compared to the others? Then, we can determine how we will adjust the rental price based on the property’s amenities.

Updates are also important. The condition of the property is something owners can control; so make sure it’s in excellent shape before you rent it out. If there are newer things within the home, we factor that in when determining the rent.

Rent Price and Tenant RetentionRent Price and Tenant Retention

You need to balance maximizing your rental income with maximizing the longevity of our lease. This is an important thing to consider when you’re deciding on a price. Do you want to get as much as you can or do you want to get the tenant to stay as long as they can?

Sometimes if you try to maximize the rent come close to pricing the home too high, your tenants will not stick around as long. They’ll move into the next property that comes along with a lower price tag. If you want to retain great tenants, you may not want to price the rent as high as possible. Instead, place it somewhere in the middle.

Ultimately, determining that rental dollar is very important to avoiding vacancies and keeping tenants for the long term. If you have any additional questions or if you are curious as to what kind of rent your property can get, please contact us at CRM Properties. We do offer a free rental analysis, and we can answer any questions you have.

Bethan Johnson

Turn Coordinator

Bethan is a Property Manager Assistant. She performs all property inspection and evaluations, creates tenant invoices and oversees disposition of security deposits.

Why choose CRM Properties?

We have the best selection of homes in the Kokomo area. Our staff’s dedication to customer service leads to a swift response to maintenance and tenant questions.

 

What is your screening process?

We verify income with copies of pay stubs and verification from your employer. We check court records for any judgments and criminal activity. We also contact your previous landlords directly for a referral. We will verify that the person we call is actually your landlord.

 

Are pets allowed?

Most homes allow pets. We do have breed and size restrictions. We limit the number of allowed pets and you must provide proof of vaccinations on all pets. We charge an additional $25 per month and $150 additional deposit.

 

How much is the damage deposit?

The damage deposit is equal to one month’s rent. An additional $150 is required for all pets.

 

How long of a lease must I sign?

Our leases are typically one year. During winter months we structure our leases to expire during the spring.

 

How do I pay my rent?

You can pay rent in person with a personal check, cashier’s check or money order. You may set up an e-payment or direct deposit. You may also mail your rent or use our dropbox.

 

What happens if I can’t pay my rent on time?

We do not make arrangements on rent. Rent is due on the 1st of each month. Late fees start on the 5th. If we do not receive rent by the 15th we file an eviction. You may stop the eviction if you pay rent in full prior to the eviction date.

 

How are utilities handled?

Utilities are typically the tenant’s responsibility. Utilities must be transferred into the tenants name prior to signing the lease. If the tenant is responsible for the sanitation bill and fails to pay it, we reserve the right to increase the monthly rent and include sanitation in the rent.

 

What do I do if I have a maintenance request?

Why choose CRM Properties?

 

What do you charge?

 

When do I get paid?

 

How much is the damage deposit?

 

How long will it take to get my property rented?

 

How do you market my property?

 

What is your approval process for tenants?

 

What is the tenant deposit and length of lease?

 

Do you accept pets?

 

What is the eviction process?

Amanda Mendenhall

Leasing Agent

Amanda is our Leasing Agent. She oversees property showings and screens applicants.

Bethany Shoffner

Portfolio Manager

Bethany is one of our Property Managers. She is the single point of contact for owners and oversees the tenant experience.

Hannah Dobbins

Resident Service Coordinator

Julie Mullinax

Operations Manager

Julie is our Operations Manager. She oversees the staff and the day to day operations of our company.

Heather Johnson

Property Manager

Heather is one of our Property Managers. She is the single point of contact for owners and oversees the tenant experience

Jennifer Koenig

Resident Services Coordinator

Jennifer is our Office Assistant. She assists the Property Managers with all property and social media marketing.

Amanda Marshall

Maintenance Coordinator

Theresa Cain-Rush

Property Management Assistant

Darin Olson

Maintenance Manager

Darin is our Maintenance Manager. He investigates maintenance issues and offers suggestions and estimates for repairs.

Lynda Simpson

Bookkeeper

Lynda is our Bookkeeper. She handles all accounts payable and receivables. She also coordinates all owner and tenant billing.

Chris Mullinax

Broker Owner & New Business Development

As President and Owner of CRM Properties Chris helps generate new business and works on making sure the business is compliant with all local, state and national laws and ordinances.

Call us at (765) 459-8034 during business hours.

We guarantee that a team member will be on the other end to answer any questions you may have.

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