Pet Security Deposits – Landlording TV – #33

A great question was asked on the blog about accepting Pets, what to charge for Pet Security Deposits and whether or not to charge extra rent.

Setting Rental Rates: Step 3. How to gauge the Rental Market – Landlording TV – #20

The third step to setting Rental Rates is gauging your current rental market. Step 1 and 2 help you define the “goal” rent amount, but it’s only in our research that we see the realistic rent amount you’ll be able to get for your rental unit.

Landlord Lessons:

• How not knowing the current rental market can cost you HUNDREDs of dollars
• How to very quickly find your realistic rental amount
• How to set your pricing aggressively for the fastest way to fill your vacant unit.
• Why every second your unit is vacant you are SPENDING money

The “Setting Rental Rates” Series on Landlording TV:

Setting Rental Rates: Step 1 – #3
Setting Rental Rates: Step 2. Security Deposits – #6
Setting Rental Rates: Step 3. How to gauge the Rental Market – #20

Watch Justin Palma explain the second of the three steps to properly setup an Apartment for financial success.  In this episode, learn the proper way to protect yourself – with Security Deposits:

• Protect yourself with Security Deposits
• Plan for the Worst
• Vandalism Insurance
• Typical Eviction Costs to make sure you are covered!

Having a plan for income and protection are the first two steps, but whether or not you are able to reach your goals given the current Market Conditions is another question and the final step.


The “Setting Rental Rates” Series on Landlording TV:

Setting Rental Rates: Step 1 – #3
Setting Rental Rates: Step 2. Security Deposits – #6
Setting Rental Rates: Step 3. How to gauge the Rental Market – #20

Join Justin Palma in the office as he goes over the first of three steps to properly set an Apartment’s Rent amount.  In this episode, learn how to quickly formulate the amount of rental income necessary for success.

• Quickly calculate your Gross Expenses
• Include a budget for Return on Investment
• Include a budget for Rental Repairs

From this information, calculating what you need to get for the unit’s rent is easy! Learn whether or not the market will allow for this rental rate in the next episodes.


The “Setting Rental Rates” Series on Landlording TV:

Setting Rental Rates: Step 1 – #3
Setting Rental Rates: Step 2. Security Deposits – #6
Setting Rental Rates: Step 3. How to gauge the Rental Market – #20