Rent & Our Role As The Accountant!
Here at Housing Hub, we pride ourselves on being the fastest growing property management company in the Twin Cities. Our owners, Joe Collins and Tom Gallagher, have 50 years of combined experience managing, flipping, renovating, and buying and selling properties.
Housing Hub wears many “hats” as a property management and a real estate investment services company. This month, we are exploring just one of those many roles, The Accountant! This role entails setting and adjusting rent, maintaining and optimizing budgets, and recording costs of property maintenance.
Today, we’re going to talk about rent!
A lot of factors go into what determines the cost of rent, some of them include:
-Size of the property and the number of bedrooms/bathrooms
-How long the tenant has lived there
-Vacancy rate at the property and surrounding area
Ultimately, the property owner decides what rent will be, not us. We do not own the property you live at, we manage it for the owner. Therefore, any final decisions about maintenance charges, rent, or other fees are made by the property owner. We provide a rental analysis for new leases and offer suggestions on setting the price of rent, but in the end, it is not up to us, but the owner.
Stay tuned to our website and social media channels for more on our role as The Accountant next week!