Being Aware of The Average Market Rate

Being Aware of The Average Market Rate

Today there was a person talking about the cost of renting where he was paying almost two thousand dollars a month for a space which sounded astronomically high to another person who happened to rent out to others. By the sounds of it, the person has rented out space to tenants for a long time where the rate has never really increased for decades. He was charging people around eight hundred dollars a month it seems which is incredibly cheap nowadays but was normal way back.

That makes you think how even though you have say a good system in place that is making money in the market you could be underselling yourself by not seeing what others are charging in which the market fully accepts. You can’t just change rental rates in these situations though of course. But it does apply to everything else where you should take the time to see what others are doing.

Granted you may not want to charge more because it just simply works for you too. However, it’s good to at least know what you could be charging.

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