At GPS Renting, we believe that setting the right rental price is both an art and a science. Our approach combines market data, property condition, and strategic timing to help you attract qualified residents quickly—while maximizing your return.
1. How We Determine Your Rental Price #
We use a three-factor model to recommend your rental price:
1. Property Information
We look at core details such as:
- Location
- Square footage
- Number of bedrooms and bathrooms
- Lot size, yard, and garage availability
Public listing sites like Zillow help provide a general benchmark for similar homes in your area.
2. Property Condition
After our pre-listing inspection, we assess your home’s current condition:
- Updates or remodeling
- Appliance quality
- Kitchen and bathroom finishes
- Overall presentation
Well-maintained, updated homes tend to attract higher rent and stronger applicants.
3. Market Conditions
Just before going live—typically 3–4 days prior—we conduct a fresh market analysis using up-to-date rental comps. This helps us ensure your home is competitively positioned to attract the right interest in real time.
2. Final Pricing Decision #
We’ll present our recommended rental price based on this analysis. You’ll always have the final say, and we’re here to support you with transparent insights and guidance throughout the decision-making process.
3. Listing Exposure #
Your home will be listed on over a dozen major rental websites to reach the widest possible audience. These platforms are synced automatically to ensure consistency across the web.
We’ve found that the Zillow rental network alone drives over 80% of qualified renter traffic, so our default syndication plan is typically sufficient without needing premium website add-ons.
📌 If you’d like to explore premium listing options, we’re happy to discuss those—but they’re usually not necessary for success.
4. Self-Touring Technology #
To increase showing flexibility, we use a self-touring system powered by ShowMojo. Prospects can schedule viewings at their convenience—verified by GPS, ID, or credit card—without needing a live agent onsite.
This method has proven effective in reducing vacancy time and improving tour-to-application rates.
⚠️ Please note: while self-touring is secure and widely used, there are risks involved. GPS Renting takes every precaution to protect your property, but we cannot fully eliminate the potential for misuse or damage during unsupervised tours.
5. Weekly Listing Updates #
Each Monday during the listing period, we send you a summary that includes:
- Number of inquiries received
- Number of self-tours conducted
- Number of applications submitted
- Specific feedback from tour participants
This allows us to fine-tune pricing and strategy in real time based on how the market is responding.
What the Data Tells Us
Rental activity tends to follow this pattern:
- 25 contacts → 4–5 showings → 1 application
If a listing receives fewer than 25 inquiries or fewer than 4 showings in a given week, it typically signals that the price may be too high. In that case, we’ll recommend next steps—whether adjusting the price or exploring other changes to attract stronger interest.
