Forget the News: This is How You Should Price San Diego Rental Homes

San Diego ranks as one of the best places to raise a family, making it a popular rental market for single-family homes. So if you own a home in “America’s Finest City”, how should you expect to price your San Diego rental property? 

If you’ve been following the news, you’re not going to get many helpful clues on how to evaluate your rent. In June 2022 alone, The San Diego Union Tribune reported that rents for single-family rentals increased by 10% this year — while Fox 5 says that rents have cooled and are even falling this month.  

The truth is that all these reports are flawed, because they’re based on a very broad data-set of asking rents for available properties. They also incorporate high-end luxury properties that may not be comparable at all to your single-family home in San Diego. Bottom line: these stats don’t really reflect what is being paid in the market here and now. 

Even the property management approach of looking at homes in your neighborhood may not be the best way to decide what to charge for your home. There’s wild fluctuations in the market, inflation and interest rate changes. Other homes could have rented out a year ago when the market was a different place. 

So what’s the alternative? Belong has found a way to price San Diego rental homes based on real-world demand, not just what’s in the news. 

How to price your San Diego rental property with real-time demand

The best way to stay in step with the market is to price your San Diego home right from the start. When helping owners price homes in San Diego’s rental market, Belong uses technology to blend live market data with an all-important metric: real demand for each home. We determine the right price for your home that will maximize rental income and keep vacancies low, long-term. 

Once your home is on Belong, we get a true measure of the market by looking at impressions, clicks, tour sign-ups and how many people have started applications. With all that data at our fingertips — plus real estate benchmarks for the San Diego region — we can work with homeowners to react quickly and maximize rental value, while minimizing vacancy. 

And because we have ditched the property management model to create a residential network that is inclusive of residents, we attract the best of the best to place in your home. 

As a result, we trump the property management industry with 66% less vacancy. And our residents want to stay, with 71% renewing their 1-year lease (and unlike property management companies, this is done at no cost to homeowners). 

SoCal rental pricing that is just right

If you’re looking for a guide that covers the ins and outs of how to price a rental, we’ve covered 12 of those common pricing factors here. Or you can see if your property is eligible for Belong. 

With a unique approach and live insights from the San Diego rental market, Belong addresses the complexities and shifts in the rental market to determine exactly what high-quality, long-term residents are looking for and what they are ready to pay, right now. 

The result is fewer vacancies, great people caring for your home, profitable rental income, and no tricks or compromises that could devalue your home as a rental investment. 

Find out how Belong would value your SD rental at https://belonghome.com/homeowners/san-diego