How should I price a luxury rental property for long term leasing in 2025?
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2 Answers
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Check comparable luxury listings, add your premium for finishes, and set a rate that handles maintenance plus a small buffer for vacancy.
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When I priced my San Diego luxury condo for a 2024 lease I started with the comps in my building, then adjusted for the upgrades I added, like smart lighting and blackout shades. I tracked last year’s occupancy as well as new luxury inventory coming online, then built a margin that covered higher maintenance and offered a slight incentive for signing longer than a year. Talk to a local broker so you can see where tenants are still paying a premium, then factor in your finish level, amenities, parking, and pets. That mix keeps the rent competitive but still profitable.
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