When setting the rates for your rental properties, you have to make sure your rent prices are set high enough so you can cover costs associated with being a landlord (like your mortgage, insurance, taxes (*sigh*), maintenance), but also be low enough to be competitive in the market.
Yeah, we know – that’s a lot easier said than done.
But as a College Pads customer, finding the sweet spot for rent prices is about to get a little easier with Rent Index. Check out how the Rent Index will help you stay competitive in your market!
Campus Average Rent Prices
The campus average section will combine all the rent prices for a certain floorplan, regardless of property type, to give you an idea of where your prices should be.
Two Week Rent Price Trends
Easily see if the campus average rent prices have increased or decreased in the last two weeks.
Your Average Rent Prices
Review the average per person rent prices for YOUR active rentals by the floorplan to spot-check for prices that are higher than the campus average. If your prices are:
- Are highlighted in red and say N/A in a row, it’s because you don’t have an active unit matching that floorplan type in your account or you don’t have a price set for that unit.
- Highlighted in red and have a price, then the price is higher than the campus average price for that floorplan type.
- If your prices seem too high, please check your listing to see if:
- You have the most accurate & up-to-date pricing listed.
- Your listings have the pricing set as per person when the pricing displayed is actually per unit.
- Your prices on your listing are per full-year, academic year, or semester, and that pricing style isn’t preset for the entire campus.
- Highlighted in blue, then they are lower than the campus average for that floorplan type.
- If your prices seem too low, please check your listing to see if you have the most accurate & up-to-date pricing listed.
Floorplan & Property Type Averages
Not all rentals were created the same, which is why we broke down the average rent prices by the floorplan and by property type – so you can easily check to make sure your rentals are competitively priced.
Neighborhood Specific Pricing
Using the neighborhood dropdown option in the upper-righthand corner, you can further filter pricing in your market by a specific neighborhood in your area – so you can easily check to make sure you’re charging a competitive price for the area you’re in.
University Specific Views
Do you have rental properties at multiple campuses? No problem! Using the university selector option in the upper-righthand corner, you can view the Rent Index for the different university pages you have your listings on.
To check out the Rent Index you’ll need to log into your account, click the Campus Insights option on the left-hand side, and click on the Rent Index dropdown option. From there, it’s pretty easy.
Did you check out the Rent Index? Let us know what you think below! For more helpful content, make sure to check out our landlord blog regularly.