Determining Central Florida Rental Price

Setting the right rental price is crucial for finding success in the property investment business.

At the same time, determining the price of your Central Florida home is like Goldilocks’ experience with the three bears — you can neither set the price of your home too high or too low. It needs to be just right.

Set the price too high, and you risk losing income due to a lack of takers and having your home remain vacant for too long. However, if you set the price too low, you risk losing again — this time due to not charging enough to cover all related expenses for your rental’s upkeep.

Determining the right rental price for your property is not easy. That’s where Park Avenue Property Management can help property owners in Central Florida.

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Price Your Property According to Rental Trends

With over four decades of combined experience and knowledge, our team is able to provide reliable and up-to-date data for all our clients.
Park Avenue Property Management does the legwork to ensure you set accurate rental rates based on the current market trends, inflation, tenant expectations, and other relevant factors. With our help, there’s no need to wonder whether the price you set is truly profitable.
Contact us today to schedule a free consultation and learn whether the prices you set are fair and keeping up with rental market trends.

What To Consider When Pricing Rentals in Central Florida

The First Things Potential Tenants Check

There are many factors that affect rental prices. However, the biggest factors that contribute to rental property prices are the things that potential tenants look at first. These include:

  • Property type, such as single-detached, multifamily, or condo
  • Property size
  • Number of bedrooms and bathrooms
  • Location of the property
  • Available amenities and appliances or furnishings

Current market rents, inflation rate, and lease duration are other important factors for pricing your property.

Additionally, prospective tenants look at how well a property is managed. If your property does not look clean or well-maintained, it may still lose out on tenants. Luckily, with Park Avenue Property Management, you won’t have to worry about how your property is priced, maintained, or marketed.

Researching Fair Market Rents and Trends

A lot of work goes into determining a fair rental price — especially one that satisfies both the property owner and the renter. It requires staying up to date with the ups and downs of the housing market, doing a lot of research on the neighborhood, and keeping an eye on your competitors’ pricing.

Some ways you can do your own research are:

  • Using Google
  • Checking online listings
  • Using automated market rent determination tools

However, even with all these at your disposal, it can take a lot of hours of work to arrive at the best rental rate.

Park Avenue Property Management has a skilled team with years of experience and wide industry connections, giving us an upper hand on getting the latest market trends.

Current Central Florida Rental Market Trends

The cost of rental homes and apartments in Central Florida went through a huge spike over the last year. In Orlando, rental rates went up by over 19%, with the average rent increasing $160 when comparing January and September rates.

The rising costs of rental homes not only make it difficult for renters to afford but also for property owners to lease their house. Thankfully, trends show that the spike in rental rates are starting to slow down.

As of September 2022, rental rates have started to go down in the Miami-Dade and Palm Beach County area by around $20. At the same time, the rate of rent increase in Orlando has slowed down. By November 2022, the average rent for an Orlando studio apartment has gone down by approximately 5%.

Let Park Avenue Property Management carry the burden of staying up-to-date with the rental market. Contact us today for a free consultation.

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Correctly pricing your rental property is crucial to its success.

Price it too high and your property stays vacant, without a tenant to pay you rent. Price it too low and you miss out on your highest earning potential. Either mistake puts you in danger of mandatory repairs or other costs eating too far into your profits for you to make money.

If you’re stuck trying to research the right price on your own, we can help you find it.

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We’ve been in property management here in Central Florida since 2011 and have the local real estate knowledge and experience to get it right. We know what neighborhoods can fetch what rent, and we know how to avoid pricing out too many qualified applicants. Don’t guess and risk your earning potential. Let us help.

Request your free rental analysis below, and our team will be happy to help you find the price that maximizes your earning potential.

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Very very very Good customer service,same day replies and very understanding people. Ashley is very responsive and understanding she literally goes out her way to help! I am a tenant and am hoping to renew my lease!...Apartments are very big and very spacious and it is a very quite neighborhood! thank you Ashley for all that you do for me,You go Girl!!

Seandarie Terry

Clear Service Packages That Fit Your Needs as a Property Owner

Whether you own a single-family home or vacation rental, are looking for tenant placement or all the way to full-service management, we can help. We offer competitively priced packages in a simple, transparent format. View our packages below and contact us for more information about property management in Orlando or surrounding areas.

Bronze
Silver
Gold
Monthly Management Fee 10% Management Fees 10% Management Fees 10% Management Fees
Tenant Placement Fee 1 Month's Rent 50% of 1 Month's Rent 1 Month's Rent
Rent Assessment
Marketing the Property
Finding Tenants
Tenant Screening
Pet Screening
Full Legal Compliance
Convenient Rent Payments
Accounting
Property Maintenance
Rent Collection
Eviction Process Handling
Property Accounting and Reporting
Monthly Owner Statements
Property Evaluations
Owner and Tenant Portals
Tenant Maintenance System
Filter Replacement Program
Maintenance Guarantee
Satisfaction Guarantee
Leasing Guarantee
Pet Guarantee
Tenant Damage Guarantee
Eviction Guarantee
Capital Improvement Evaluation Upon Request Upon Request Upon Request
HVAC Maintenance Agreement Upon Request Upon Request Upon Request

Bronze

10% Management Fees
Tenant Placement Fee: 1 Month's Rent

Rent Assessment

We thoroughly research market rates to maximize the rent amount. We also recommend property improvements to increase asking rents.

Marketing the Property

We use a comprehensive advertising plan, including online avenues as well as traditional platforms, to reach all potential tenants.

Finding Tenants

We use in-house and external leasing agents in addition to state-of-the-art self-showing technology to gather as many applicants as possible.

Tenant Screening

We’ve set high qualification standards and have a detailed application process, which includes income verification, background checks, credit checks and even pet screening!

Pet Screening

All pets are screened by our third-party vendor to help eliminate 'fake' service animals and problem pets.

Full Legal Compliance

Our leasing agents and property managers are all licensed. And, we conduct all our activities in accordance with State and Federal law as well as the National Association of Residential Property Managers Code of Ethics.

Capital Improvement Evaluation

Annual visit and report on capital improvement needs for your rental property. - Upon Request

HVAC Maintenance Agreement

Regularly scheduled service program of your properties HVAC system. - Upon Request

Silver

Monthly Management Fee: 10% of 1 Month's Rent
Tenant Placement Fee: 50% of 1 Month's Rent

Rent Assessment

We thoroughly research market rates to maximize the rent amount. We also recommend property improvements to increase asking rents.

Marketing the Property

We use a comprehensive advertising plan, including online avenues as well as traditional platforms, to reach all potential tenants.

Finding Tenants

We use in-house and external leasing agents in addition to state-of-the-art self-showing technology to gather as many applicants as possible.

Tenant Screening

We’ve set high qualification standards and have a detailed application process, which includes income verification, background checks, credit checks and even pet screening!

Pet Screening

All pets are screened by our third-party vendor to help eliminate 'fake' service animals and problem pets.

Full Legal Compliance

Our leasing agents and property managers are all licensed. And, we conduct all our activities in accordance with State and Federal law as well as the National Association of Residential Property Managers Code of Ethics.

Convenient Rent Payments

Multiple options for tenants to pay rent conveniently and on time.

Accounting

Detailed monthly statements, annual reports and IRS compliant reporting.

Property Maintenance

We have a dedicated maintenance team of qualified vendors and a “sister” maintenance company to ensure prompt repairs and we are on-call 24/7/365 for emergencies.

Rent Collection

We manage all rent collections for your property. We have strict policies and standards in place to collect rent as effectively as possible.

Eviction Process Handling

We use an attorney to assist with the eviction process in the unlikely event that a tenant needs to be removed from the property. This enables us to win an overwhelming majority of our eviction cases.

Property Accounting and Reporting

We have an in-house accounting team who oversees all accounting and reporting functions. We use a cloud-based management software -- the leading, comprehensive, integrated accounting, maintenance, and advertising program available to the industry.

Monthly Owner Statements

We simplify your life by connecting you to our Owner Portal to send monthly owner statements.

Property Evaluations

Detailed, regular, on-sight evaluations of your property to review and report on property condition.

Owner and Tenant Portals

We give you real-time access to your properties via your Owner Portal. Prospective residents can apply online with the click of a button, existing residents pay their rent online instead of sending rent checks by mail.

Tenant Maintenance System

From their mobile device, Tenants can conveniently place maintenance requests, schedule appointments and communicate with vendors, making life simple for our tenants.

Filter Replacement Program

Tenants are responsible for changing the AC filters monthly, we conduct frequent inspections on the property to ensure this is completed and also send reminders to the tenant to change the filter.

Maintenance Guarantee

Maintenance service performed by our in-house maintenance company is guaranteed for workmanship for 30 days except HVAC is guaranteed for 1 year on new system installation we provide only.

Satisfaction Guarantee

If you are not satisfied with our services, and we can’t make it right for you, you can cancel our management agreement without penalty.

Capital Improvement Evaluation

Annual visit and report on capital improvement needs for your rental property. - Upon Request

HVAC Maintenance Agreement

Regularly scheduled service program of your properties HVAC system. - Upon Request

Gold

Monthly Management Fee: 10% of 1 Month's Rent
Tenant Placement Fee: 1 Month's Rent

Rent Assessment

We thoroughly research market rates to maximize the rent amount. We also recommend property improvements to increase asking rents.

Marketing the Property

We use a comprehensive advertising plan, including online avenues as well as traditional platforms, to reach all potential tenants.

Finding Tenants

We use in-house and external leasing agents in addition to state-of-the-art self-showing technology to gather as many applicants as possible.

Tenant Screening

We’ve set high qualification standards and have a detailed application process, which includes income verification, background checks, credit checks and even pet screening!

Pet Screening

All pets are screened by our third-party vendor to help eliminate 'fake' service animals and problem pets.

Full Legal Compliance

Our leasing agents and property managers are all licensed. And, we conduct all our activities in accordance with State and Federal law as well as the National Association of Residential Property Managers Code of Ethics.

Convenient Rent Payments

Multiple options for tenants to pay rent conveniently and on time.

Accounting

Detailed monthly statements, annual reports and IRS compliant reporting.

Property Maintenance

We have a dedicated maintenance team of qualified vendors and a “sister” maintenance company to ensure prompt repairs and we are on-call 24/7/365 for emergencies.

Rent Collection

We manage all rent collections for your property. We have strict policies and standards in place to collect rent as effectively as possible.

Eviction Process Handling

We use an attorney to assist with the eviction process in the unlikely event that a tenant needs to be removed from the property. This enables us to win an overwhelming majority of our eviction cases.

Property Accounting and Reporting

We have an in-house accounting team who oversees all accounting and reporting functions. We use a cloud-based management software -- the leading, comprehensive, integrated accounting, maintenance, and advertising program available to the industry.

Monthly Owner Statements

We simplify your life by connecting you to our Owner Portal to send monthly owner statements.

Property Evaluations

Detailed, regular, on-sight evaluations of your property to review and report on property condition.

Owner and Tenant Portals

We give you real-time access to your properties via your Owner Portal. Prospective residents can apply online with the click of a button, existing residents pay their rent online instead of sending rent checks by mail.

Tenant Maintenance System

From their mobile device, Tenants can conveniently place maintenance requests, schedule appointments and communicate with vendors, making life simple for our tenants.

Filter Replacement Program

Tenants are responsible for changing the AC filters monthly, we conduct frequent inspections on the property to ensure this is completed and also send reminders to the tenant to change the filter.

Maintenance Guarantee

Maintenance service performed by our in-house maintenance company is guaranteed for workmanship for 30 days except HVAC is guaranteed for 1 year on new system installation we provide only.

Satisfaction Guarantee

If you are not satisfied with our services, and we can’t make it right for you, you can cancel our management agreement without penalty.

Leasing Guarantee

If a tenant we place into your rental property leaves before the end of the initial lease term, we will not charge you a Leasing Commission to find a replacement tenant. (excluding moves for military orders)

Pet Guarantee

While we are managing the property, we cover up to $150 in damage above the Security Deposit to your property that is caused by a pet we approved for your rental.

Tenant Damage Guarantee

While we are managing the property, if a tenant we placed causes damage to your property, in excess of the Security Deposit, we will make the repairs, up to $250, to assist the owner.

Eviction Guarantee

While we are managing the property, if a tenant we placed has to be evicted, we will handle the cost of eviction, up to $700.

Capital Improvement Evaluation

Annual visit and report on capital improvement needs for your rental property. - Upon Request

HVAC Maintenance Agreement

Regularly scheduled service program of your properties HVAC system. - Upon Request

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Want to Learn More?

If you’d like to learn more about our properties and what it’s like to work with Park Avenue Property Management, get in touch. We’d be happy to talk more about our rental properties, our application requirements, and our leasing process.

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Park Avenue Property Management LLC

1420 Celebration Blvd, Ste 200
Celebration, FL 34747
(407) 574-2355
manager@rentparkave.com