How to use pricing features to rent out your property quicker

HousingAnywhere includes easy-to-use pricing features to help you rent your property faster.

Kriti

3 minute read

·

Updated on 17 Sep 2024

HousingAnywhere includes easy-to-use pricing features that’ll help you rent out your property faster.

You can use:

1. RentRadar to set an optimal rent price
2. Advanced pricing to adapt rental price to seasonal trends
3. Different contract types to offer greater flexibility to tenants when booking
4. Include a flexible cancellation policy to increase the visibility of your listing and engagement from potential tenants
5. A breakdown of additional costs to attract tenants who’re ready and able to pay the full cost

RentRadar is a free rent suggestion tool that lets property owners and rental businesses confidently decide how much rent to charge.

You can use the tool to see current rental prices for a specific location. This will allow you to quickly estimate how much you should charge and how much you could earn with your property.

You can rely on this feature since every month thousands of landlords and property managers list their properties on HousingAnywhere. With each published listing, we learn more about the market and use the knowledge to help you make better rental decisions.

When to use RentRadar?

Some of the common uses of RentRadar are:

1. To accurately estimate the rent price and maximise the property’s occupancy rate.
2. To skip time-consuming market research and know when to raise the rent.
3. To understand which neighbourhoods to invest in.

To use RentRadar, enter the following details on the RentRadar page:

• property’s full address
• the type of property: apartment, private room or studio
• the property area in square meters
• the number of bedrooms

Clicking on ‘Recommend a price’ will show you the average rental price you should charge for a furnished property with bills included. Use this estimate and list your property immediately.

With Advanced pricing, you get the flexibility to charge different rent per month. The tenant simply pays the custom rent you’ve set per month. For instance, if they have a 6-month contract, they could pay €300 for the first month and €450 for the remaining 5 months.

The Advanced pricing feature allows you to take seasonality into account and match the rent price to the market demand. This way, you can charge higher rent in peak season and lower rent in low season.

Learn more about how rent is calculated for different types of contracts when using Advanced pricing.

How to set up Advanced pricing?

You can use Advanced pricing in 3 simple steps. When editing or creating a listing from your dashboard:

1. Click on ‘Costs’ on the left menu and look under the ‘Rent’ section.
2. Select ‘Advanced price’.
3. Fill in the rent for each month.

HousingAnywhere allows you to choose from 3 contract types - Daily, Fortnightly and Monthly.

Each contract type allows you to specify:

1. If a tenant can move in and move out in the middle of the month.
2. How much rent they need to pay when booking and the months thereafter
3. How often they need to pay rent

For instance, with a daily contract, a tenant pays for the exact number of days they're renting the property. But for a monthly contract, the tenant pays the full month's rent, regardless of the date they move in to the apartment.

To rent out your property quicker, you can opt for daily contract as it allows the tenant more flexibility and is more cost friendly.

At HousingAnywhere, you can choose between a standard cancellation policy or a flexible cancellation policy. Each policy allows the tenant to cancel and get a refund if they cancel the booking within a specified period of time.

Choosing flexible cancellation will help you rent out your property quicker for various reasons.

1. We tag listings with flexible bookings, allowing them to get more views from tenants.
2. A higher visibility of your listing increases engagement from tenants. This means you'll have more tenants to choose from.
3. A flexible policy creates peace of mind for the tenant, encouraging them to book your property over another.

Note: 1. The cancellation policy will apply regardless of the reason for cancellation. 2. The flexible cancellation policy applies to all conversations that start after you select this policy from your dashboard. 3. If you don't opt in, our current cancellation policy still applies. 4. This has no implications on the HousingAnywhere service fee. 5. This has no implications on the 48-hour safeguard policy.

Besides rent, you can also show tenants any additional costs they’ll need to pay. You can also specify if the additional cost is included in the rent or should be paid separately. This helps make the pricing transparent by breaking up the total rent into different components.

There’re different costs that you can set up on HousingAnywhere.

Utility Cost - Add costs for individual utility services from the dropdown or add other services if it’s not mentioned in the dropdown.

Additional required cost - Add an administration fee and other costs, such as a move-in fee.

Optional Services - Add the costs for optional services that the tenant needs to pay if they avail of the service. For example, early move-in fee.