Pricing your Bay Area rental isn't about comps anymore. See what happens when you take a new approach to pricing your rental home in SF's sought-after Bay Area

Bay Area Prices are in Flux: How Much Rent Should You Charge?

They’re up, they’re down, they’re back up again. Bay Area rents are some of the highest across the country — and the most unpredictable. With prices bouncing around after the pandemic, you don’t need a crystal ball to price your home in the Bay Area rental market. You need Belong. 

Like all major cities, Bay Area rents suffered a big blow during the peak of the pandemic in 2020-2021. And while prices are on the rise again, the Bay Area is unique in that in May 2022 it was reported to be the only major metro area where prices have yet to reach pre-pandemic levels.

Of course, that isn’t the entire picture. Nor is it doom-and-gloom news for owners of rental properties in San Francisco’s Bay Area. Given that the pre-pandemic rents were some of the highest in the country after years of astronomical growth, today’s market isn’t exactly soft. 

San Francisco, Oakland and San Jose remain among the top 10 most expensive cities in the country to rent, despite being down on pre-pandemic levels. 

With this state of flux, coupled with rising interest rates and troubling inflation, homeowners could be forgiven for thinking that you need a crystal ball to price your Bay Area rental. But Belong has a better solution, based on real-time demand.  

How to price your Bay Area rental property with real-time demand

Looking at hard numbers and comps alone isn’t enough when the market gets this complicated. Or looking to outdated models such as asking for 1-2% of the mortgage rate or property value. Yet that’s exactly what real estate agents and property managers do, because it’s the way it’s always been done. 

But we’re playing a different game now. Property values have changed from that once-neat sum. And as workers return to the city, the wish list of amenities has changed. People have become accustomed to more space. They want outdoor areas, fast wifi and home offices. Studios and 1-bedroom apartments are still trickier to shift, while roomier homes are being snapped up soon after listing. 

Belong addresses these complexities and shifts by taking a modern approach to pricing homes on the rental market. In fact, Belong has ditched the property management model to offer a completely unique service that takes a humanized approach to the rental market —  including pricing. 

When helping owners price rentals in SF’s Bay Area, 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. And because we extend our services to renters as part of our community, we attract the best of the best to place in your rental property. 

Belong averages 66% less vacancy than property managers

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 local-market benchmarks — we can work with homeowners to react quickly and maximize rental value, while minimizing vacancy. 

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). 

Goldilocks rental pricing that is just right, for right now.

SF is one of the biggest tech hubs in the country, isn't it about time you start using first-class technology to power your rental investment? With a unique approach and live insights from the local rental market, Belong knows 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 Bay Area rental at https://belonghome.com/homeowners/bay-area 

Getting the right price for your Seattle rental isn't about comps alone. See what happens when you take a human approach to pricing your Washington rental home

How to Find the Sweet Spot of Rental Pricing For Your Seattle Home

Getting the right price for your Seattle rental property is all about market data, right? Not always. Find out what happens when you take a more human approach to pricing your home on the Washington rental market. 

In 2022, the Seattle rental market skyrocketed. Fuelled by jobs growth in the area, it was reported that Seattle rents are up 29% over last year. This is well above the already-high average nationwide increase of 15%. 

But how long will this last? Large price rises should slow in the later half of the year, so is now the right time to raise rents through the roof? Or should you be looking long-term, creating fairer pricing to stop your residents from bailing every 12 months in search of a better deal?

There’s also the new issue emerging that will affect locals. Some of Seattle’s biggest employers — including the goliath that is Amazon — are now overstaffed. What happens when job growth slows down? If you capitalize on growth outside of the greater Seattle area, what happens to your rental value when remote workers get called back into the office?

You see, market data is great, but it’s not perfect. If you look at the hard numbers alone, as most real estate agents and property managers do, you could be setting yourself up for failure later. Overprice your home now and you will be limiting your applicant pool and risk having to drop your rates dramatically when the market softens. Price too low now and you could devalue your property or even upset your HOA. 

How to price your Seattle rental property

The old model for rental rates used to be to ask for 1% of the mortgage rate or property value. This model is painfully outdated. With the rate of inflation and interest rate hikes, you could have difficulty finding someone to rent your home at that ask. 

The best way to avoid leaning too hard on market data, speculation, and outdated calculations is to take a human approach to renting your home. After all, that’s exactly what renters are and your home is set to become theirs when they move in. 

While the property managers of Washington are keeping an eye on comps, Belong takes a different approach to pricing homes on the rental market. Belong has ditched the property management model to offer a completely unique service that takes a humanized approach to the rental market —  including pricing. 

When helping owners price their homes for the Seattle rental market, Belong uses technology to blend live market data with an all-important metric: real-time demand for your home. By looking at how many people are in the market and their budget, we can determine the right price for your home that will maximize rental income, while attracting the best people to care for your home in the long term. Renters love Belong because we extend our services to them as part of our community, ensuring we find the best of the best to place in your rental property. 

Belong’s average time to rent in Washington is an industry-leading 12 days

Once your home is listed 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 of that data at our fingertips — plus local-market benchmarks — we can work with homeowners to react quickly and maximize rental value, while minimizing vacancy. As a result, we trump the property management industry with an average time to rent of just 12 days in Washington (as of May 2022). 

And if you want to keep your cash-flow running in those 12 days (or less!), we can make sure you continue getting paid with our fee-free Smooth Payments option, unique to Belong. 

Goldilocks rental pricing that is juuuust right.

What happens when you couple current market data with live, real-time demand from the local rental market? The sweet spot, the Goldilocks of rental pricing. Belong takes the guesswork out of what to charge by using first-class technology to determine the right price for your home, including what high-quality, long-term residents are prepared to pay right now. 

The end 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 rental home at belonghome.com/homeowners.

Great school districts impact how to price your rental. This guide for real estate investors shows how quality schools are evaluated and influence pricing.

How Your Property's School District Affects Rental Pricing

Rental property owners can expect that home values will be higher in areas where school districts are favorably rated. As a result, high-quality schools have the potential to influence the way you price your rental. However, homeowners must understand how schools are evaluated and why these factors influence rental pricing. 

How school districts influence property values 

When high-quality schools attract homeowners and residents to a specific area, the value of those properties increases. An increase in home values (and the subsequent increased price for rental homes) is more likely to occur in areas where good schools and homes are in short supply. 

When it’s easier to develop new homes, it's less likely that home values and rent prices will increase because you can reduce the demand as new homes are built. In contrast, in areas where it’s impossible to reduce demand by building new homes, the value of homes and the cost to rent homes will continue to increase. 

Understanding how we evaluate school districts 

In evaluating your property school district, it’s essential to consider the quality of the school district overall, but remember that elementary schools, middle schools, and high schools can vary significantly in the same neighborhood or district.

Several factors can affect school district ratings, including: 

How to research individual schools and school districts 

Search for online school profiles and rating sites 

Several websites publish ratings and evaluations for individual schools and their districts:

Keep in mind that these sites evaluate schools based on their own unique criteria or by compiling data from other sources. Ideally, you should compare ratings from multiple sources to validate their data and claims.

Locate and review any state dashboards or reports

Often, each state will compile a website page where residents can compare school districts and individual schools. These dashboards can serve as a starting point for researching your property’s school district. These often include test scores and metrics like student-teacher ratios like other third-party reports. 

However, you should also search for upcoming changes or improvements planned for districts and individual schools. Schools that undergo improvements or renovation projects will likely improve their test scores in the following years. As a result, capital improvement projects can be a good indicator of improving school district performance. 

Factors that affect rental home desirability for parents 

Parents invested in finding a rental home in a good school district will likely look beyond rating and test scores. Several factors will contribute to a “good” location for high-quality education choices. 

Proximity to public school alternatives 

Parents may choose to look beyond public school education opportunities to find the ideal location to rent a home. Parents may look for a home within driving distance of a charter or private school. Parents may also look for magnet schools or special academic programs within local public schools. 

If there are nearby public schools alternatives, it might be helpful to understand how student admission works. For example, private schools may require students to interview and pass specific tests before enrolling. Alternatively, charter schools may have long waiting lists or lotteries. 

How parents can choose their child’s school

If you’re not already familiar with the school section process in your district, it may be helpful to research the process. Each state and district has different guidelines which govern which school parents can send their children to. 

In some school districts, parents may choose any school in the district and not just the school closest to their home. Other guidelines might require students to participate in a lottery system. In other districts, students may only have one choice of public school.  

How do medium and low-ranking school districts affect the rental price of a property 

If you find that your property’s school district ranks average or below, your rental pricing may not be affected. The vast majority of school districts in the country perform at a moderate level, with others ranking higher and lower. 

It is important to note that poorly performing school districts can correlate with other factors that could affect the rental price of your property. It’s often the case that communities with underperforming school districts experience more crime and enjoy fewer amenities like parks and recreational spaces. So while a low-ranking school district may not directly affect rental pricing, it’s crucial to evaluate school districts within the context of their communities. 

How highly desirable school districts affect property rental prices 

In contrast, if your property’s school district ranks well and is highly desirable, you may see that your rental pricing is affected positively. Why might that be, and what effects can school districts have on rental properties? 

There will be more demand for rental homes if fewer homes are for sale in your highly-desired school district. This is particularly true for areas with limited opportunities to build new homes or residential buildings. This increased demand will result in higher rental values and more cash flow. 

Residents are invested in the community and schools

In areas where schools are highly desirable, and there is more demand for homes, residents are more likely to renew their leases and see more value in their current rental homes. With a focus on school performance, you will likely see that residents are more invested in their communities.  

Often there is a correlation between student performance and parental involvement. If a parent is able to emphasize their children’s academic performance, they’re also likely to have the means to take good care of their rental property.

How highly rated school districts can affect home value 

High demand for rental homes in an area where the market cannot grow or reduce demand often means that homeowners will invest more money for a smaller, older, or less updated house. Buyers and renters may be willing to forgo some features, like a large yard, in exchange for access and proximity to good schools. 

The effect of school districts on home value over time

The National Bureau of Economic Research found that home values increased by twenty dollars for every dollar spent on public schools in a community. Investing in public school education has an evident positive influence on home values over time. High-quality schools can help ensure home values grow or remain stable in changing markets. A home located in a desirable school district can protect homeowners against market volatility. 

Understanding the relationship between property taxes and good school districts 

What’s the correlation between property taxes and school districts? In communities where school districts perform well and are highly desired, education-related ballot measures are often unanimously passed, resulting in higher property taxes for homeowners. The more tax revenue a school gets to pay for teachers, books, and infrastructure, the better the schools usually end up being. As a result, property values and rental prices increase. 

How to choose a real estate agent when you want to buy an investment property for the rental market.

How to Choose a Real Estate Agent When Buying an Investment Property

If you’ve decided to search and purchase a real estate investment property, one of your first steps will be to find the right real estate agent. Even if you have worked with an agent in the past, choosing a real estate professional for investment purposes requires additional preparation and careful consideration. 

Top three suggestions for choosing a real estate agent when you want to buy an investment property:

Know what qualities you are looking for in a real estate property and an estate agent. 

Interview at least three real estate agents who have experience helping investors find potential properties in your desired neighborhoods. 

Choose an investor-friendly agent who can help you find, evaluate, and purchase a profitable real estate investment.  

If you haven’t worked with a real estate agent in the past, you’ll want to identify several candidates to interview. With any luck, you’ll likely have several options to choose from. 

To find your ideal real estate agent, start with a few recommendations from close friends and family. These suggestions will likely come from people who have worked directly with a real estate agent. 

Professional networks are another excellent way to find a real estate agent for your investment property search. You might consider starting with your financial advisor, accountant, or lawyer. Their go-to real estate agents will likely share some or all of the qualities you appreciate in those professional relationships. 

If you have good relationships with other real estate investors, they’ll likely be willing to refer you to their real estate agent. Asking your fellow investors is an excellent way to connect with real estate agents who are likely to be a good fit. 

Prepare to interview potential real estate agents 

In choosing a real estate agent for your investment property search, it’s essential to speak with several potential agents. We recommend you make several determinations and prepare a few questions in advance. Some agents may also offer to see a few properties with you so you can get a sense of their approach. 

To find the ideal real estate agent, you’ll need to have a clear sense of what you are looking for in a real estate investment. To find the best fit, you’ll need to decide which neighborhoods and property types to target. Are you looking for a single-family home in the suburbs or a duplex in the city center? Finally, you’ll need to have a clear budget in mind. 

Revisit real estate investment fundamentals

Ideally, the real estate agent should be knowledgeable about real estate investing. If you’re not familiar with the best practices for investing in real estate, it may be challenging to identify the most knowledgeable agent. If this is the case, we recommend you research the basics of real estate investing.

Questions to ask potential real estate agents 

Once you’ve identified potential real estate agents, consider making a list of questions to ask. These questions will ensure that you have all the information you need to make a good decision. 

When did you become a real estate agent? Why? 

What did you do before you became a real estate agent? 

Are you a full or part-time real estate agent?

Are you an independent real estate agent, or do you have a brokerage?

Which communities or neighborhoods are you most familiar with? Do you have personal ties in specific communities that help you assist clients?   

Do you have a specific process you want to follow?

How much communication can I expect from you? How responsive are you to client calls and emails? 

How familiar are you with real estate investing?

Do you have any real estate investments? Where are they? 

Have you worked with other real estate investors?

What is your standard commission? Are you willing to negotiate your commission? 

Are there any additional costs or fees? 

How much do you enjoy spending time with this person? You’re likely to spend quite a bit of time with whatever real estate agent you choose, and your general inclination towards someone is a good indication of how you will work together. While this shouldn't be the only factor in your decision, it’s worth considering. 

Consider whether or not a particular real estate agent understands your vision and desires? If you don’t have a mutual understanding, it’s unlikely to be a productive relationship. What is your definition of success, and does this particular agent share that perspective? When you agree on the goal, you’re more likely to achieve it.  

Is the real estate agent familiar with the neighborhood or communities you want to target? If they are well-connected and knowledgeable about specific areas, agents can point you towards unique or off-market opportunities. 

Choosing a real estate agent when you want to buy an investment property requires careful judgment. Exceptional real estate agents share a few qualities that make them uniquely qualified to guide you through purchasing a real estate investment property. 

Tenacious: Are they willing to hunt down the right property for you? Will they write multiple offers to ensure you get the best deal?

Collaborative: Is it in their nature to be proactive and helpful? Will they treat your real estate investment search as a shared opportunity? Are they willing to lend their expertise to your search?

Honest: Ultimately, you’re choosing someone to represent your financial interests. You’ll need to ensure you select someone you can trust to act with integrity. 

A simple but comprehensive guide to how to choose a real estate agent when you want to buy an investment property for the rental market.

If you own an investment property on the rental market, you need to be aware of these 5 strategies to save on tax and defer capital gains.

Tax Strategies for Rental Investors: 5 Ways To Make A Home Less Taxing

Did you know that letting your family and friends stay in your rental property could change your tax deductions? Or that if you’ve lived in the home in the past five years, you may be exempt from capital gains tax? There are plenty of tax benefits when it comes to your rental property, but how you use and even change the home can influence what you can and can’t claim. This article will cover five tax strategies that all rental property investors should be aware of. 

This article helps to highlight five tax strategies that rental property investors should be aware of, but should not be considered financial advice. Please speak to an accountant or financial advisor to discuss your individual situation and eligibility.            

5 key tax strategies for rental property investors

Strategy #1: Keep accurate records of all expenses

Investment properties attract a range of tax deductions, but to make use of this strategy you will need to ensure that you keep accurate records of spending and that expenses are necessary to operate your property as a rental home. 

There is a difference between necessities and ‘nice to haves’, which are not claimable. For example, if you repaired a broken heater, this is a claimable tax deduction. If you decided to upgrade the property by installing a new HVAC system, that would be considered a ‘capital improvement’ to increase the value of the home and doesn’t qualify as essential repairs and maintenance. Capital improvements need to be claimed under depreciation, which we will cover next. 

It’s also important to note that deductions only apply to properties used as rental investments, not any personal use. That means if you use the property for family holidays or your Great-Uncle Donny moves in for a couple of months, you won’t be able to claim any expenses related to those periods. 

The simplest way to make use of the full tax deductions available is to find a long-term resident to rent your home.

Common tax deductions for rental properties include: 

Interest paid on a mortgage on a rental property

Professional fees for advice and assistance on your rental property, including accountants, property management fees, Belong fees, and legal advice

Any utilities you cover on behalf of rental residents, such as electricity, landscaping

Necessary repairs and regular maintenance

Strategy #2: Offset your income with the depreciation of your rental property

While there are plenty of necessary items you can claim on tax, you can’t deduct your mortgage or principal payments, or the cost of things like furniture, fixtures, or improvements as an expense. What you can do, however, is deduct the decline in value on the part of the property used for rental purposes. This can be used to offset your income and lower tax liability on capital gains from the investment. 

Known as depreciation, it’s one of the most appealing and impactful tax strategies for rental property owners. Depreciation allows you to deduct costs associated with buying and improving your rental property. Rather than happening in one big deduction, depreciation distributes the cost over the functional life of the property (calculated at 27.5 years). 

An accountant can help you work out the nitty-gritty details of what you can and can’t claim, but to summarize, there are a few important factors that the IRS considers with depreciation:

Most items that are 10-20 years old are worth less than when they are brand new, but for homes, they usually appreciate over time. This is due largely to the land value. For this reason, depreciation only applies to the usable home structure that is in service as a rental, so you will need to calculate the cost/value of the building excluding the land value. This value of the house, regardless of condition, is divided by 27.5 to calculate the annual depreciation of your real estate investment. 

A rental property can’t be depreciated if you stop using it as a rental in the same year. So if you sell it, the structure is destroyed/abandoned, or you take it out of service for personal use, you will not be eligible to claim depreciation in that year.

You can continue to claim a depreciation deduction for property that's temporarily not in use, for example during vacancies between residents or if you are making repairs/improvements to a property in preparation for the next resident. 

Capital improvements made to the house (e.g. a new deck, renovated kitchen, installing an HVAC system) need to be added to the value of the property and can also be depreciated as they make up the value of your home, rather than being a necessary expense. Add the amount an improvement costs you, including any amount borrowed, labor and material costs, as well as consulting expenses such as architect fees or surveying. 

Depreciation reduces your basis for figuring gain or loss on a later sale or exchange.

Strategy #3: Limit capital gains on the sale

If you have lived in your home before putting it on the rental market, you could be exempt from capital gains when it comes time to sell. Homeowners are exempt from up to $250k (if single) and $500k (if married) of capital gains on the sale of a primary residence. In order to qualify as a primary residence, you must have occupied the home for two of the last five years, though they need not be consecutive. Spouses filing jointly must both have occupied the property. This exemption is only allowable once every two years.

If you’ve never lived in the home or don’t qualify for the exemption, you can limit your tax liability by keeping good records of all improvements made to the home. As mentioned above, this is because they can be used under depreciation to reduce capital gain. 

Strategy #4: Defer capital gains by investing in a Qualified Opportunity Zone

You can defer capital gains if you reinvest in a rental property in communities that are in need of economic stimulation and job creation. This is because in 2017, the Tax Cuts and Jobs Acts created a tax incentive to support investment in these communities. Investments include properties for lease, so long as the lease is at market rate and entered into after December 31, 2017. 

There are over 8,000 communities across all 50 states that are certified as Qualified Opportunity Zones, including ~800 in California). You can search for addresses on a map, here. 

There is additional paperwork required to elect to defer tax on eligible gains invested in Qualified Opportunity Zones, so make sure you speak to an accountant for assistance on how to complete these forms and get up to speed with a financial advisor before making any decisions on investing. The IRS also has an FAQ page on Opportunity Zones here. 

Strategy #5: Defer capital gains by replacing investment properties with another when selling

If you sell an investment property for more than its depreciated value, you may be required to “recapture” the depreciation. This means the amount of depreciation will be included in your taxable income from the sale of the property.

With a big jump in housing value over the past few years, if you sell a real estate investment now, it’s very likely you will pay capital gains tax. But if you buy another similar property to replace it, you could be eligible for a 1031 exchange or “like-kind” exchange. 

The advantage of a 1031 exchange is that it lets you defer capital gains tax, so you have more net cash to invest in a replacement property.

Homeowners use a 1031 exchange for a number of reasons, including:

Buying a property that promises to offer a better return;

You can find more information on 1031 exchanges in an article we wrote here, or speak to an accountant or financial advisor about your circumstances. 

Simplifying tax time for real estate investors 

Managing the paperwork and tracking expenses from a rental property gets complicated fast. Especially if you own more than one home or decide to manage the work yourself. By partnering with a modern company like Belong, everything gets easier. 

When tax time comes around, your income and expenses will be simple to calculate because you always know exactly where you stand. With guaranteed rent in place, you will know precisely what your rental income looks like (regardless of when residents pay). And you won’t find yourself getting tripped up by a string of unexpected expenses. Find out if your rental home qualifies at belonghome.com/homeowners. 

Find out why summer is the best time to get your rental property listed and how to attract the best possible tenants for your home on the rental market.

4 Reasons Summer is the Best Time to List Your Rental Property

As the school year concludes, high school and college graduates as well as families with children entering summer vacation are poised to move during their wide open summer months. 

With increased demand and a limited supply of housing, you’ve got the chance to make even more in rental income, even with the unprecedented rates we’ve seen in the past few years. 

Follow along for more details about why summer is prime time for you to get your rental property listed, and some details about attracting the best possible residents for your home! 

Why enter the rental home market in the summer?

If you’re thinking of listing a property on the rental market, don’t wait! Here are the reasons that summer is the best time to list your rental property:

1. Higher moving rates (and rental demand) than the rest of the year

As schools shut down for the summer season, moving rates skyrocket. Here are a few of the reasons that people move in droves in the summer months:

High school graduates: as high schoolers move on to adulthood, data suggests that many of them make the move to a new community in the summer months. In many instances, they’re finding a place to rent near their new college. In others, they’re seeking a job in a new place away from home.



College graduates: with their college years behind them, recent graduates are moving on to new opportunities for work. This age group is particularly open to rent with limited funds and a need for a place to live near their new job. 



Families with children: parents are hesitant to move to a new place while their children are finishing up school. Now that the school year is behind them, many families are making the switch before the new year rolls around. 



People are seeking adventure and to try new things: summer is the season notorious for traveling and getting new experiences under your belt. As a result, it makes for a prime season for those seeking a change in their lives to move somewhere new.

With many reasons for people to move during the summer, demand for rentals increases substantially nationwide. That makes it the best time to find tenants as you’ll likely have more applicants than any other time of the year!

2. Higher rent prices in the summer months

As the world of renting returns to seasonality after years of sky-high pricing, you can get a premium for your property by listing it in the summer months. As explained above, the increased demand makes the limited supply a harder challenge for renters to overcome in the summer months. Lower vacancy rates nationally in recent memory will make the rent prices even higher this summer.

3. Let passive income pay for your summer adventures

‘Rich Dad Poor Dad’ author Robert Kiyosaki summed it up best when he said, “You can only be financially free when your passive income exceeds your expenses.” Everyone likes to travel and have fun experiences in the summer months, but that doesn’t mean you should deplete your hard earned money. Rather than taking money out of your bank account, moving residents into your rental property will give you the passive income to pay for your summer fun. 

Explore the guide to Earning Passive Income on a Rental Property for more tips on how to make your rental property a truly passive investment.

4. Recent trends indicate that you should get your property rented sooner than later

As signals of an economic downturn continue, recent trends in costs of goods and in communications from the US Treasury and World Bank indicate that you should act soon and fill your home in the summer of 2022 because there are many signals that the United States (and the rest of the world) may be entering an economic decline by 2023. For rental property owners, this means two things:

You’ll want to get a year lease locked in before the economy declines so that you have guaranteed rental income locked in regardless of the status of the economy. For truly guaranteed rent, work with Belong, as we 100% guarantee that you receive your rent, whether the resident pays or not 



As economic hardship unfolds, it will become more difficult to sell a house but easier to rent it out. Even if real estate prices crash in the short term, holding for the long term has proven to be an effective method for seeing property rates rise. Hold on to your asset as long as possible by renting it out!

You might be wondering, How Will Rising Interest Rates Affect Landlords? Explore our guide to find out. 

How to find great residents for your rental property

By choosing to rent your property in the summer months, you should have a wide array of residents applying to rent out your home. Here’s some tips for choosing the right residents for your rental home:

1. Organize, declutter, and clean your property before hosting open houses

You want your rental property to look as nice as possible to entice renters to choose your property to be their new home. If your property is already fully furnished, make sure it’s as cleanly and organized as possible before showing it to potential residents. If it’s not furnished, consider staging it to give potential residents a clear picture of what your home will look like with furniture, home supplies, and artwork. 

Looking to stage your rental? Here’s some helpful guides for Staging a Rental Home to Make the Rooms Feel Huge and the Best Home Improvements for Increasing Your ROI. 

2. Advertise your rental listing accordingly 

To get your home rented quickly, you’ll need to use the right forms of advertising it to get the property in front of potential renters. Consider making postings to relevant online channels like Zillow, Craigslist, etc., or work with a realtor to track down and vet potential tenants. 

If you don’t have the time or expertise to advertise your rental property effectively, work with Belong. We’ve got years of experience finding residents for rental properties, with it taking an average of just 19 days to lock in someone that will love your home. 

3. Have maintenance partners lined up and on call

In order to have a positive relationship with new tenants, you’ll want to make sure you have your bases covered if an issue arises with your property. Be sure to find partners like handymen, electricians, etc. in the neighborhood to ensure any issues that arise can be addressed and fixed quickly. 

Belong has an extensive network of over 10,000 vetted professionals on call all day everyday, meaning you can work with our maintenance team to ensure that your home remains in perfect shape and your residents are happy as can be with the condition of their rental. A quick fix to any issue is just a quick call or text away. 

If you’re concerned about finding tenants that are high quality and getting your home rented quickly, choosing a partner like Belong is the smartest way to go! Belong has years of experience using data to choose the right residents for rental properties, making it easier to dictate which resident is the right choice for your home. 

Belong for homeowners also has full time maintenance partners, meaning that if an issue arises at any time, you and your tenants can get an issue fixed quickly 24/7, 365. 

The best time of year to list a rental property 

Clearly, higher demand paired with increased rent prices makes summertime the best time to rent out your house. Whether you’re renting to a high school or college grad, a family with children, or anyone seeking a place to live in the booming summer months, listing your rental property NOW is a sure way to get higher rent prices and to pay for your summer adventuring. 

Belong is simplifying the rental experience and helping more homeowners reach their financial goals through real estate. Visit our homeowner's page to find out more about how our services are helping people to ditch property management in Seattle, San Francisco, San Diego, Los Angeles, Jacksonville, Miami and many more.

Know precisely what your rental income is (regardless of when tenants pay) and expenses are to simplify your tax deductions for property management fees.

How To Simplify Property Management Tax Deductions For Rental Homes

If you own a rental home in the US, this source of income is taxed like a business, with expenses related to managing the home considered tax deductible. Whether you DIY, hire a property manager, or work with Belong, fees such as tenant placement and maintenance will be deductible. Of course, tax matters are rarely black and white, so we dig a little further to clarify “are property management fees tax deductible?”

Are property management fees tax deductible? What about Belong’s fees?

In short, yes, property management fees for a rental property are tax-deductible. A property you don't use for yourself or family is seen as an investment or business, so the cost of managing the property is tax deductible.

Welcome to The Playroom