What’s the right price to rent your home?
There are a number of factors to consider when deciding how much to rent your home for during the Masters Golf Tournament in Augusta, Georgia. There isn’t a general rule of thumb when it comes to this, as it is entirely determined on an individual basis. But remember, being competitive in the price of your home will aid in the rental of your property. Below, Masters Housing Bureau presents some tips for striking the balance of pricing your rental home.
Things to Consider:
- List your home early
Experienced renters know this well – it’s never too early to begin preparing for the next Masters Tournament. That means you should list your home early. You can set a competitive price and beat your competition in the home listing race. Luckily, listing your home on our website is easier than ever. If this is your first time listing a home with us, simply fill out the form and register on our easy to use List Your Home page.
- Update your photos to show off your home
No matter what your house is worth, with the right staging, lighting and camera you can make it look like a multi-million dollar home. But the key is preparation. Potential renters want to see your home at its best. If you need to update your photos to show off the beauty of your home, now is the time to get that done. Once your home is clean and staged, you should hire a real estate photography professional to provide high-quality photos that will be sure to wow potential renters.
- Number of bedrooms and bathrooms
Most people that rent their homes charge based on the number of bedrooms and bathrooms present in the house. You can charge per bedroom and full bath or include a fee if your house includes half baths. If your home has four or more bedrooms, a daily maid service is required. This is something to definitely take into account when figuring out your rental rate.
You should also think about the length of the stay in relation to the number of bedrooms and bathrooms. The longer the stay, the more frequently or thoroughly the property will have to be cleaned.
- Consider adding a virtual tour
In the age of social media, email, text messaging, and trendy apps, virtual home tours can make your home stand out from the rest. This form of presentation gives your prospective guests a real-life walk-through of their potential home away from home for the Masters. To drive traffic to your listing and to increase the engagement of prospective guests, we recommend our partners at Top Flight Media to provide high-quality virtual home tours and professional still photography to all our clients.
- Amenities in the home
The various amenities you have in your home could also sway the rate you charge in a higher direction. Pool tables, hot tubs, outdoor pools, and outdoor kitchens are luxury amenities that are highly sought after by prospective renters. You also must consider that these amenities can either become worn or possibly take damage during a stay. Ensure that you either have insurance for these luxuries or adjust your rental price to take these possibilities into account.
- Property Type
There are three types of homes to rent based on the level of social activity expected for the property. A host home is a good idea if your guest plans to host large groups or receptions for guests and clients. A dinner home is suitable for small dinner evenings or small business gatherings. A sleeper home is akin to an upscale hotel and is more appropriate for even smaller, intimate gatherings when compared to a dinner home.
With this knowledge, determine what level your home is prepared to be categorized as and investigate the normal prices for your home’s type. If you would like more information on the types of homes, visit our Types of Homes page.
- Distance from the Augusta National
Your home’s distance from the Augusta National needs to be considered when pricing your home, because the distance determines how much a person will spend on travel to and from the Masters Golf Tournament. Most often, houses or condos closer to the event are more expensive, but prices even out if a larger home in a gated or amenity-filled community is available a bit farther away from the event.
We hope this helps you narrow down a price for your house to rent. If you have any questions, don’t hesitate to contact us by phone or through our contact form here. As Augusta’s only rental agency associated with and sanctioned by the Augusta National Golf Club, we offer an unmatched experience, brokering the widest range of homes for every budget and every client.