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Dive into the 1% rule, data-driven strategies and local analysis to find out how to price your rental home and determine what to charge for rent in any market

How Much Rent Should I Charge? A Quick Guide To Smart Pricing Strategies

Figuring out how much to charge for a rental home is a balancing act – but one that can reap big rewards. A home that achieves the greatest rental income while staying occupied is the sweet spot of rental ownership and the key to achieving your financial goals. 

So how do you arrive at the sweet spot of rental pricing? One that doesn’t price people out or leave money on the table. In this quick but informative guide we’ll dive into the data-driven approach vs. manual analysis for deciding what to charge for your rental home in any market. 

The 1% rule and data-driven solutions for rental pricing

When pricing a rental home, you may have heard of “the 1% rule”. The 1% rule suggests that the gross monthly rent you charge should be equal to or more than 1% of the property price or value to establish good cash flow. There’s also the similar 2% rule, which states that if you can rent a home for 2% of what you paid for it, it will cash flow. 

If something seems too good to be true, it probably is. The truth is, the property market and rental market are not intrinsically linked. Prices fluctuate based on supply and demand. The 1% or 2% rules also fail to account for expenses such as property taxes, HOA fees and maintenance, which will all vary based on your home’s location and condition. 

If you try and price your rental property on simple equations alone, you could end up with a high vacancy rate which can eat into your cash flow and throw the math off entirely. 

Forget these so-called rules. If you want a tried-and-tested, data-driven method for pricing your home for the rental market, do the math with Belong. Belong uses a clever combination of pricing algorithms, local knowledge and real-time demand to create the right price that suits your market today. We also track pricing against your goals to create a clear path to financial freedom. 

Belong inspects every home to determine how to achieve the best ROI and residents for your home. And once we arrive at that goldilocks price, we guarantee to pay your rental income like clockwork, regardless of when we get paid. 

Related: How Guaranteed Rent is Changing Property Management Forever

How to analyze your local market to price a rental home

If you don’t have a professional in place to arrive at a rental price for you, be prepared to do your homework. There is no one ‘rental market’, so you’re going to have to do a deep dive into your neighborhood and see what other people are charging for rent. This will help you establish a range of prices on the low and high end for you to compare your amenities against. 


1. Look up current rental listings to establish a price guide

Renters search for homes online, so this is a great place to start when establishing your baseline of what rent other homeowners are charging in your area. Websites such as StreetEasy, Zillow, Redfin, OpenDoor, and Trulia can help. Another resource to consult with is HUD’s Fair Market Rent Database.

Comparing floor plans and square footage isn’t going to be enough for accurate rental pricing. There are so many nuances which drive rental value such as:

Storage space such as closest or on-site garage

Walkability and proximity to public transportation, shops, schools etc 

Demand for rentals at your time of listing 

Do your best to narrow down comps based on pull-factors. For example, your smaller home may be worth more than an extra bedroom because it’s in a convenient location. Or your work-from-home space could attract a premium with the shift toward remote and flexible work.

3. Consider your timing and seasonal shifts

The most important factor in real estate pricing is location. The second is timing. As a supply-and-demand based market, seasonal shifts will alter what your rental home is worth. That means a 3 bedroom home in California will not cost the same in December as it does in August. 

Related: How To Achieve The Best Rent By Listing In Summer 2024

4. Consider local laws on rent control and rent stabilization

Depending on where your rental home is located, you may not be the only one that has a say in how much rent you charge for your home. Rent control laws and rent stabilization ordinances vary from city-to-city and even those rules can vary based on the age and type of home you’re renting out. This is to prevent landlords from luring in tenants and then hiking up the rent astronomically. 

It’s worth checking with your local city for local laws in case there are caps on things like security deposits and rent increases, which may affect how to choose to price rent. 

Instead of relying on guesswork, let Belong optimize your cash flow by listing at the right price to achieve your financial goals. 


Belong is a proptech company on a mission to fix long-term renting by focusing on modern innovation and services that support everyone. We’ll partner with you to get your home the best price, guarantee your rent, and care for it the way you would. Never worry about bad residents, late rent, cost blowouts, or 2am phone calls ever again. 

See why thousands of US homeowners are ditching outdated Property Management in San Francisco, Austin, San Diego, Los Angeles, Tampa, Jacksonville, Orlando and more.

Disclaimer: We don’t enjoy using the word ‘landlord’. We prefer to refer to members in our network as homeowners and residents since we’re on a mission to upend and redefine the traditional landlord-tenant relationship. This article should not be considered financial advice. Please research local laws and speak to a financial advisor regarding your personal circumstances before making any decisions on investments. 

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Hunting for the best property management in Texas? We compare 7 top-ranked PMCs and their fees with Belong's tech-forward property management alternative.

How Belong Compares To The Best Property Managers in Texas

You own a home in Texas and want it on the rental market. Naturally, the first thing you’re going to do is search for the best property management companies in Texas. We get it, you need the best of the best for your home and future rental income.

But as you sift through Google and Zillow reviews, you’ll see there’s not a whole lot to compare other than fees. And if you’re looking for what property management costs in Texas, be wary that monthly management fees often have a long list of exclusions which vary between providers. 

Those hidden costs and the sea of sameness in the market is exactly why Belong exists. To break that mold once and for all. Belong is the modern alternative to property management. A proptech company, with a human heart. Like the top-ranking property managers, we average a rating above 4.5 stars. But unlike property managers, we don’t hide fees or treat your renters like second-class citizens. 

So when comparing the best property management companies in Texas, let’s start with why you should consider ditching them for something more innovative. 


Belong vs property management companies in Texas

When comparing property management companies across Texas, you’ll be looking at a handful of differences between them all. With Belong, there’s no comparison. Because Belong isn’t a property management company, it’s a completely unique experience that is humanizing the rental market. 

Guaranteeing rent every month, not just a set payment date but regardless of when your residents pay. You can even choose to receive an entire year’s rent upfront.



Including eviction protection as standard, shielding you from costly evictions without the hidden fees or restrictive caps.



Not charging hidden fees like setup costs and lease renewal charges.



Using the one seamless app for all homeowners and residents, putting everything you need at your fingertips.



Being available for any service or enquiry at a time that suits you. That’s real 24/7 support to you and your residents, not just logging emergency maintenance.



Combining tech-forward innovation with human smarts, such as optimized rental pricing that uses our algorithms, local knowledge and real-time demand to price your home with accuracy.

Innovative, flexible financial products including the option to spread maintenance payments over the term of your lease agreement.

Access to dedicated landlords insurance to protect your asset (as well as coverage for your residents).

Integration with the most popular rental platforms to get your home loved faster.

The best property management alternative: Belong

Google Rating: 4.6 (based on 539 reviews)

Areas Served: Austin, Dallas/Fort Worth, Houston, San Antonio, and regions outside of Texas, including California, Florida, Washington, Utah and more. 

24/7 Support: Yes, both landlords and tenants get 24/7 

Guaranteed rent: Your rent is guaranteed every month (or for a year upfront), no matter when your residents pay. 

Video marketing or virtual tour: You guessed it – video is included at no extra cost

Evictions: If Belong ever needs to initiate an eviction of a tenant we have chosen and placed, we will cover legal costs up to $15,000. 

7 top-ranked property management companies in Texas

This list is based on a Google search for the best property management companies in Texas. The companies listed rank above 4.5 stars and have more than 100 reviews. Details and pricing are based on publicly-available information on the company websites (accurate as of May 2024, subject to change) and does not reflect any representation or endorsement of services. Please speak to these companies directly to confirm and before making any final decisions. 

Google Rating: 4.9 (based on 1414 reviews)

Areas Served: Austin, Round Rock, Leander, Pflugerville, Buda, Georgetown, Cedar Park, Kyle, Bastrop, Corpus Christi, Aransas Pass, and the surrounding areas.

Hours: Monday - Friday, 9am - 5pm. Closed weekends

Monthly Management Fee: Austin 8%, Corpus Christi 10%

Guaranteed rent: There is a guarantee that rent will be paid on time, but only when residents pay on time.

Additional fees: Property inspections $129. Fees for handling insurance or home warranty claims where applicable.

Evictions: Unknown, page removed from website as of May 2024

Google Rating: 4.8 (based on 188 reviews)

Areas Served: Austin plus Northern Virginia, Arlington, Virginia, Washington D.C. and The Poconos, PA

Hours: Monday - Friday, 8am - 5pm. Closed weekends

Monthly Management Fee: 10% monthly management fee for 1-5 properties

Charge for vacancy: No charge, but vacant home management costs include $150 per walkthrough and $75 per work order coordination 

Additional fees: $6 per month landlord fee or $16 per month to get more services such as eviction coverage and video tours. There are additional fees and packages from $35-$40 per month. An hourly rate of $200/hour applies for any services not included in fees including mail redirection. Check with the business for more details. 

Video marketing or virtual tour: Not standard, video is only included in the higher tier fee 

Evictions: For a $16p/m fee, eviction coverage is available on tenants they place to obtain a judgment for non-payment of rent, capped at $1000.

Google Rating: 4.8 (based on 189 reviews)

Hours: Monday - Thursday 9am - 5pm, Friday 9am - 3pm. Closed weekends.

24/7 Support: Emergencies and lease enquiry hotline available.

Monthly Management Fee: 10 - 12% monthly fee

Lease renewal charge: $199 per lease extension

Initial setup fee: $75 for a vacant home, $200 for occupied (waived for higher monthly fee)

Additional fees: Fees are charged for every maintenance work order, annual inspections and lease extensions. Lower rate will also be charged additional fees for setup and preparing documents needed for tax.  

Evictions: On the higher monthly tier there is eviction protection for filing costs, writ of possession, broker representation and $500 in belonging removals but only if the eviction is due to nonpayment of rent. No coverage applies to other evictions. Not available on lower tiers.

As a first-time homeowner, I had concerns about renting out my property. However, with Belong's team of experienced professionals, they were able to provide me with the guidance I needed throughout the entire process. Their frequent updates and communication have instilled in me a strong sense of confidence in their management abilities. I am glad I hired this team!” Russell, 5 star rating on Zillow

Belong has shown exceptional professionalism and efficiency in managing my property. Their extensive knowledge of the real estate market has been instrumental in maintaining my property and attracting suitable tenants. I am extremely satisfied with their services.” Ethel, 5 star rating on Zillow

Belong has continuously gone above and beyond in delivering the right quality of service while providing me with the necessary peace of mind that my property is in the most able hands. Kudos!” Abhiram, 5 star rating on Google

Think your Texas home belongs with us? See why thousands of homeowners are ditching traditional property management to Belong instead:

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What is a Renter Bill of Rights and how is it shaping tenant rights in 2024?

Renter Rights Are Changing: What Homeowners Need To Know In 2024

Tenant rights are in the spotlight in 2024. From rent stabilization to air conditioning, it seems every month there is a new vote or proposal for renter rights. 

But while some homeowners feel nervous about the impact or limitation on their rental income, this shouldn’t be a cause for concern. Renting is a two-way street. Treating your residents well makes good financial sense for the profitability and longevity of your rental home. 

To make it easier to uphold the homeowner-resident relationship (and stay on the right side of the law) here are some tenant rights and changes to be aware of in 2024. 

5 changes to tenant rights that all landlords should know

1. More cities are adopting a ‘Renter Bill of Rights’

In 2023, The White House issued a blueprint for a ‘Renters Bill of Rights’. It’s not federal policy or law, but it did kickstart a number of tenants rights campaigns at a local level. 

The Renter Bill of Rights outlines five principles for rental housing:

Safe, quality, accessible and affordable housing

Education, enforcement, and enhancement of renter rights

Eviction prevention, diversion, and relief

As a homeowner, it’s worth being aware of these recommendations as your local city might propose ways to make them law. There are already many tenant ordinances being introduced across the country (e.g. San Diego and Tacoma). 

Related: California Rental Laws Are Changing in 2024: What Landlords Need To Know

When COVID-19 protections ended, a number of cities opted to keep ‘just cause evictions’'. In 2024, more homeowners need to have a justifiable reason for evicting a tenant from their rental home. This is to protect good residents from being ousted for the purpose of raising rent above local caps or stabilization measures. 

Tenant protection laws are also seeing evictions evolve to include things like:

Offering relocation payment if residents can’t afford new rent or you want to move back into the home

Limitations on evictions of educators and families during school terms

The right to hold eviction proceedings remotely

Changes to notice periods or period to resolve issues before an eviction is filed

If you ever need to file an eviction, be sure to check your local city ordinances to see how 2024 changes may impact this decision. 

If you’re a Belong homeowner, contact us first so we can advise the best course of action and shield you from legal costs with eviction protection. 

Related: How To Avoid Costly Evictions With Belong’s Game-Changing Safety Net For Homeowners

3. Screening and discrimination laws have changed

If you manage your own tenant screening, you need a standard applied to all applicants to avoid discrimination under Fair Housing Laws. But in 2024, you should also check for local extensions to this law. 

For example, ‘Source of Income’ discrimination is where an applicant is rejected for using government housing vouchers/rental subsidies. New York outlaws this and as of January 1st, California requires homeowners to accept evidence other than credit history for voucher holders to show they can pay their portion of the rent (such as a benefit or bank statement). 

Then there are new ‘first come, first served’ laws, like the City of Seattle’s ‘First in Time’ requirement. Seattle homeowners need to accept the first qualified applicant, rather than pooling applications. This means less choice and control for homeowners, but it also reduces the risk of bias and potential discrimination against renters.  

Pro Tip: Eliminate the screening headaches and legal minefield by letting Belong find you the best long-term residents for your home. We’ll even guarantee their rent and protect you from any costly evictions. Learn more about becoming a Belong homeowner. 

4. “Junk fees” are under the microscope

Some homeowners and property management companies (not Belong!) charge an application fee or screening costs to potential renters when looking for new tenants. In July 2023, The White House also called out the hidden costs of renting and the “junk fees” that plague the industry. 

Since President Biden brought the problem to light, several states have introduced bills to crack down on hidden rental housing fees. Expect to see more in 2024 and real estate search platforms commit to showing the true cost of renting in the listed fees.

Massachusetts and Vermont have already outlawed application fees. Virginia, Wisconsin, California and New York cap what homeowners can pass on and some cities give applicants the right to have the fee returned if they aren’t successful.  

Before listing a rental home in 2024, make sure you’re on top of any local changes and be prepared to include all extra costs upfront in your price, especially if you’re charging extra fees. 

If your home is looked after by Belong, you can relax. Transparency is one of the many issues that Belong addresses for homeowners and their residents. 

Discover Belong: See why thousands of US homeowners are ditching outdated Property Management in San Francisco, Austin, San Diego, Los Angeles, Tampa, Jacksonville, Orlando and more.

5. Security deposits are getting a shake-up 

Many tenant-landlord laws permit homeowners to ask whatever they like for a security deposit. There have been few controls over when to return the money or how damages were claimed. 

This is still the case for some regions, but many jurisdictions are tightening their policies on security deposits to avoid exploitation of residents. Local legislation varies, but new rulings include: 

Capping the maximum amount of security deposits

Reducing the deadline for when security deposits need to be returned

Providing documented evidence for damage claims

Giving an option to pay a month fee in lieu of a security deposit


Pro Tip: Belong gives residents the flexible option to pay their security deposit in installments, so you don’t need to forgo this safety net for the sake of breaking down costs.

Local laws can override your lease agreement

While lease agreements are legally binding, you can’t sneak in a disclaimer about your property to change the rules e.g. accepting the home in a poor condition or changes to the security deposit. Local ordinances and state laws override any agreement in your lease. It’s important to ensure that everything is above board before you sign on any new residents. 

This can also be an issue when using one of the many free lease agreement templates available online. Be wary that these documents may not be updated to 2024 standards or may be void by local laws. The safest way to ensure you have a legally binding contract is to engage professional services such as a real estate lawyer or an experienced management company like Belong. 

What is a Renter Bill of Rights and how is it shaping tenant rights in 2024? This guide for landlords shows five ways renter rights and law are evolving in 2024.

Get Great Residents and Guaranteed Rent with Belong

To improve cash flow for your rental home, listing at times of peak demand will help you achieve the best rent long-term. Learn why summer 2024 is that time.

Peak Cash Flow: How To Achieve The Best Rent By Listing In Summer 2024

Summer rentals often make us think of vacation homes. After all, it’s when holidaymakers are out and when short-term rentals make the most cash. But while short-term rentals may give a quick cash boost, a long-term approach may serve your financial needs better throughout the year. 

Summer is also when rents peak in the long-term market. By securing residents for the next 12 months (especially with guaranteed rent), you can have predictable income year-around. This will let you plan your financial goals with certainty, while also providing an invaluable service to the community — a place to call home. 

In this article, we’ll dive into why summer is the best time to market your rental home and how to get it ready to optimize your pricing. 


Short-term vs long-term strategy for renting a home over summer

Summer used to be a sure-thing for cash-flow on vacation homes. But with a glut of stock now available, many owners of short-term rentals are struggling with a huge drop-off in bookings over peak periods. 

Then there’s the headache of licensing, caps, fees and taxes, which are only increasing as cities like Seattle and San Diego make moves to curb short-term rentals from eating up a much-needed housing supply. Per-night or per-week rates seem attractive, but vacancies, fees and running costs can eat into extra profit. 

This is why it’s worth doing the math on renting out your home long-term for summer, when demand and pricing peaks. On the Belong network, we see rents and applicants rise over Spring before peaking in September and declining again from October. This makes summer the perfect time to lock in long-term residents. And if you trust your home to Belong, we’ll help you achieve the best possible price and then guarantee that it’s paid like clockwork, regardless of when residents pay. 

If you have a vacation home, spring is the ideal time to consider if switching to a long-term rental could help achieve your financial goals. This gives you time to find the ideal residents and lock in the best possible rental price when demand is at its highest. 

Read more: Short-Term Rental vs. Long-Term Rental: The Pros and Cons

6 tips for getting your rental home move-in ready for summer

Whether you’re switching to a long-term lease or are preparing to attract a new wave of applicants, here are six things you can do in spring to get your home move-in ready. Tackling maintenance jobs now will save money in the long run and help to secure good cash flow for the next 12 months and beyond. 

1. Get an inspection for long-term livability


For millions of people across the US, renting isn’t a temporary measure. With housing affordability at some of the lowest levels ever, more people are looking to rentals as a place to call home. 

Even if your home is already a rental, it’s a good idea to have a pre-lease inspection that focuses on two main areas: safety and resident experience. Homes that are inviting and comfortable attract more interest, helping to secure a better price long-term. 

At a minimum it means making sure air conditioning units are working, pipes aren’t leaking, pests controlled and no safety hazards or mold. But you may also consider a fresh coat of paint, new shower heads or little upgrades to make the house feel like a home. If you haven’t budgeted for this, Belong can help with flexible payment options on home maintenance and access to over 10,000 vetted contractors. 

Read More: How Belong Inspections Reduce Vacancy and Prepare Your Home For New Residents

If your rental home has a swimming pool, make sure it’s clean and functional ahead of summer. Include specifics in the lease agreement to be clear on who handles the cost and upkeep of the pool. 


Spring can encourage lawns to get a little out of control, so gardens and plants will need attention. Ensure any sprinkler systems are working and provide instructions for residents on how to best care for any garden you have in place.

4. Prepare for storm and hurricane season


Southern states like Florida are prone to severe storms and hurricanes, with the season peaking around August - September. You can check your address on FEMA’s Flood Map to find your flood zone category and risk of property damage during summer and fall. If you are at risk, check your insurance coverage and look at the National Flood Insurance Program. 


Check the home for any loose fittings that could become an issue during storm season. Installing or maintaining hurricane shutters is another good idea to protect your investment from flying debris and damage. They also offer great insulation and protection from burglaries for your residents.  

5. Protect your rental home against fire risk


The dry heat of summer brings fire risks, especially in states like California. To best protect your rental home from summer fires, take the following steps:

Test smoke detectors and ensure they are up to code

Remove debris from your property such as dry leaves and overgrown grass

Have a fire extinguisher and source of water available to protect the home

Have a fire evacuation plan for residents

Choose an insurance policy that includes fire coverage

When updating or maintaining the home, budget for risk-mitigation features such as fire-resistant roof and siding, or fire-resistant landscaping 

Read More: Creating a Rental Property Safety Plan

6. Make sure you have adequate insurance coverage


If you’re about to rent out your house for the first time, homeowners insurance won’t cut it. Homeowners insurance is designed only for owner-occupied homes, so if you’re putting it on the rental market (short term or long term) you will need dedicated landlords insurance. This will help protect you against damage caused by residents as well as unexpected issues that could arise over summer such as fire, theft, vandalism and water damage.   

Read More: What Type of Insurance Should I Get For My Rental Property?

Let Belong optimize your rental pricing for summer

Instead of relying on comps from winter and spring, let Belong optimize your cash flow by listing at the right price for summer. Belong leverages real-time demand signals from the market to help maximize rental income and keep homeowners cash flow positive. 


Do the math on long-term renting with Belong and find out if your home is eligible here.

Melanie Kershaw

Mel Kershaw is a Content Lead at Belong. With an extensive background working with technology companies including Eventbrite and Yelp, she’s always looking for ways to create educational and informative articles that simplifies tech and solves problems for her audience.

Adam Hanft

Natalie McNeal

Flora Fiorillo

Jill Jaracz

Jordan Newsom

Adam Hanft

Natalie McNeal

Flora Fiorillo

Jill Jaracz

Jordan Newsom