How are the rents set?

Rates for long-term rentals are based on the rents for comparable properties in similar locations. Since approximately fifty percent of residential property on the Monterey Peninsula is non-owner occupied, this is relatively easy to accomplish. We take a look at not only the properties that are managed by our company, but those managed by other companies and owner-operators.
 

Rates are not set by totaling your mortgage payment, your taxes on the property, and your expenses! While it might seem reasonable to attempt to set your rate in this way, keep in mind that there is no correlation between what a property costs an owner and what it will generate in rent. The market sets the rates in our free-market society!