What Drives Rental Prices?
Location
We all know that location is important, but especially places close to schools and universities are popular because they have a transient group of people coming in and out of the state. Of course, this means that you cannot earn a high income. Another funny note, did you know that rental rates can actually be related to geography? The sunniest areas and best views yield higher rents .
Size
A spacious apartment will always attract the most potential tenants. Two bedrooms are especially desirable because a renter can bring a roommate and cut their own cash expenditure in half.
Accessories, Apartments and services
The condo will attract tenants if there is a washer and dryer in the unit, if there is a pool, if indoor or contracted parking is available with the unit, if there are new appliances and fixtures and lastly, if the unit is close to the beach.
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