How To Set Market Rent Without Guessing

We break down how we price rentals so owners stop guessing and start using real signals like demand, seasonality, condition, and street-by-street context. We also explain why vacancy costs more than most people think and how our marketing and screening process protects both owners and tenants. 
• partnering with a property manager before buying to confirm market rent and cash flow 
• using Zillow as a tool while avoiding the trap of list rent vs actual rented price 
• checking competition, days on market, and the street context around a property 
• pricing for Northeast Ohio seasonality and adjusting quickly to avoid vacancy loss 
• setting a realistic rent range with wiggle room instead of one must-hit number 
• focusing on cleanliness and presentation as the cheapest way to boost demand 
• improving outcomes with strong photos, syndication, and open-schedule showings 
• screening tenants with consistent criteria, adding credit scores, and staying compliant 
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Transcript

Why Pricing Breaks Deals

SPEAKER_02 0:26

All right, everyone, welcome back to the Rick and Shauna show. And um today we are going to talk about kind of one of the biggest challenges that we come across, which is um, you know, pricing rentals.

SPEAKER_01 0:41

Yep.

SPEAKER_02 0:42

And that seems to be one of the biggest challenges that that we run into just in terms of you know when owners purchase a property or about to purchase a property. Um, like I believe we said in our last podcast, you know, we want people to partner with us before that so we can make sure that those that pricing is um where it needs to be and it's gonna work for the owner.

SPEAKER_00 1:06

Yeah, when they purchase a property and it is, you know, in this price range where we're getting at these days, where it's just it's it's top of the market, you know. I mean, they're buying these properties at way more than uh five years ago, right? Yeah, it's not, and so you've got to be very careful about the price that you're purchasing these properties at, and that's where we come in. We've had a lot more clients reach out to us these days, um, probably what in the last maybe three, four months, that they're about to purchase a property and they want to know what I can rent it for.

SPEAKER_01 1:41

Right.

SPEAKER_00 1:42

So we will dig in a little bit, we'll let them know. We give, you know, we get the addresses from them, and then we start to go to work. We look at it online. What's that called? Eagle View?

SPEAKER_02 1:52

Yeah, uh Google Street View, that's what it's called. Yeah, Street View.

SPEAKER_00 1:57

So we do that.

SPEAKER_02 1:58

Um, that's good that owners are asking, you know, start they're starting to ask those questions more up front. Yeah. Um, more than they used to. Um, you know, uh years ago, those questions would hardly ever get asked.

SPEAKER_00 2:11

I know, I like it actually, they're getting more savvy, you know, with with that. I mean, this is a big purchase, let's face it. You know, some of them are trying to build portfolios of 500, you know, over the next five years. And the prices, I'm not quite sure where they're they're headed, but that's a tall order to fill. And if you don't know what your rent's gonna be, you might get into trouble.

SPEAKER_02 2:34

Yeah, you could. Well, the bottom line is we want to see these owners do well, these investors do well in the market. So we want them to, to your point, we want them to be savvy and really understand the market. So maybe that's something that we should kind of dive into, um, kind of what we what we do. Some of the things that's how do we like strategize, yeah. How do we do it?

SPEAKER_00 2:55

Yeah,

Zillow Numbers And Hidden Traps

SPEAKER_00 2:56

for sure.

SPEAKER_02 2:56

Um, so I think one uh of the areas that um owners get into is um is Zillow. They rev they rely very heavily on Zillow, and it it's certainly a tool to be able to be used. It's a tool that we use too. Um, but you just have to be careful when you're when you're doing this because there are many ways to evaluate the property.

SPEAKER_00 3:18

Yeah, for sure.

SPEAKER_02 3:20

You know, so those are the things that we're gonna try to get, you know, educate people on. Um so when you're looking at a Zillow, even though that property says, well, hey, the average rent in that market is this, you know, that's average rent, but that doesn't talk about condition.

SPEAKER_00 3:39

No, and I think for Zillow, and we've talked about this before, Zillow will show you what a price was. I'm sorry, Zillow will show you what a house was listed at, but doesn't always show you what it rented at ultimately, right?

SPEAKER_02 3:53

Well, it never does, right? No. We never know.

SPEAKER_00 3:55

Actually, you're right, never.

SPEAKER_02 3:56

Yeah.

SPEAKER_00 3:56

So that's a big thing, that's a big deal, especially for our out of state owners who, I know you look at Zillow and I know it's big. You know, we do, like you said, we look at it too, but we're a little bit more resourceful in the fact that we know that those are just starting prices, right? Right. So we want to see what our competition is out there. What are people thinking a three-bedroom, one bath in this area should be listed at? How many days on the market has it been? Yeah, because Zillow will show you that too, right?

SPEAKER_02 4:26

Yeah, and sometimes it shows you, sometimes it doesn't, but you should always be looking at it because you can tell right away. Property's been on the market 90 days, there's a top of the market rent. You just know that that property is overpriced.

SPEAKER_01 4:37

Right.

SPEAKER_02 4:38

Um, you know, so it's it it definitely is there's just a little bit more to it. And we too when we talked a little bit about the the you know where the property sits, um, you know, what's around that property.

SPEAKER_01 4:51

Yeah.

SPEAKER_02 4:51

Like on both sides of that property. So when you're evaluating a property and you look at it, you know, of course, the pictures that you see on Zillow, they're like, they're focused right in on that house. You're like, hey man, it looks great.

SPEAKER_00 5:02

Sometimes there's a reason why they're so focused, right?

SPEAKER_02 5:05

Property looks yeah, property looks great.

SPEAKER_00 5:07

Yeah.

SPEAKER_02 5:08

Um, but that's one of those things when we talk about evaluating a property, when somebody comes to us and they start saying, Hey, what do you think about rent? What do you think about this property? Um, we're cautious about just throwing a number out.

SPEAKER_00 5:22

No, yeah, for sure.

SPEAKER_02 5:23

You know, for obvious reasons, because we haven't seen the in we haven't seen the inside of the house.

SPEAKER_00 5:27

Yeah.

SPEAKER_02 5:27

We don't know exactly where it sits.

SPEAKER_00 5:29

And what are the what will they say? Usually what they've already done. Well, look at the pictures, they look great.

SPEAKER_02 5:34

It's rent ready.

SPEAKER_00 5:35

It's rent ready.

SPEAKER_02 5:36

It's rent ready. It's rent ready. We can talk about that one a little later. But yeah, so it's it's that thing of, and that's that's I think some of the value that we bring, or a property manager should bring, is um being able to go out there and take a look. You know, so you know, what's really going on? Can we get the lockbox code? Can we actually go into the property before an owner buy it? Sometimes you know, sometimes we have success in doing that, sometimes we don't. Right. But we're gonna at least look at what's around it and what that property is all about. So that's kind of a beginning point.

SPEAKER_00 6:09

Yeah.

SPEAKER_02 6:09

You know, so you don't just like say, okay, yeah, Zillow says this is the way we're going.

SPEAKER_00 6:13

That's right.

SPEAKER_02 6:14

So that's kind of how we break down, you know, that, you know, looking at Zillows, looking at all the ways to evaluate. I think that's a good place to start.

SPEAKER_00 6:24

Oh, yeah, for sure. Yep.

Seasonality Changes What Rent Clears

SPEAKER_00 6:26

Um, another big thing that I know that we run into a lot is like here in Ohio, our weather is wonky, right? So we have winter, we have four seasons. So there is a time gap where we have really good success, and then there is a part of, you know, a time of year where we don't. So during our summer months, where you know, it's probably what starts probably right around March, I would say it starts to pick up, and then it goes till about September. It seems like a long time, but those that's when kids are getting out of school, you know, people are starting to look. Um, early on, people have gotten, you know, a chunk of money maybe from income tax and they're setting that aside to move. And so when pricing a property, we also take that into consideration because if we think it's gonna be in one of those uh months where it's between like that March and September, then we can we can play around with the price just a little. We can go a little higher.

SPEAKER_02 7:27

They're gonna do better in those peak seasons.

SPEAKER_00 7:29

Yes, it's got way more activity, way more people wanting to look and wanting to move than having to.

SPEAKER_01 7:35

Right.

SPEAKER_00 7:36

So, you know, if you get into those November, December where we've got holidays and we've got um snow on the ground and we've just got icky weather, then not a lot of people are moving unless they have to. And then those people always come with challenges. When we do the price strategy for um our owners, it is very important not to overprice it because it could sit one extra month and then you've lost all of that profit, anyways, right? Yeah. And we run into that so much when people are like, yeah, but it says I can get, you know, what, 1,300, and we're seeing them go at a thousand.

SPEAKER_02 8:13

Yep. And yeah, so it it just depends on, you know, you think about it, depends on how they got into the property. And I think that's one of the challenges that you know investors have is that do you have any wiggle room in your price? Because if you don't, that's gonna create a big problem because you just the market's gonna tell us, right? So we're always gonna, of course, we want to see these investors get the most they can out of these properties. We want to, we want to make sure that that happens. And we're gonna, you know, of course we want to push the envelope a little bit and see what we can get. But you know, once we do that, after a week or so, we want to start bringing that pricing down because we know that we're running out of time in terms of they're they're they're not gonna get that price. So we want to get the property, you know, rented and get that income coming in for the owner because they've already already lost that opportunity.

SPEAKER_00 9:05

That's right. I mean, they've lost that money, right? And I know we've had that conversation multiple times with people, and most of the time it's crazy they don't think of it that way until we bring it to their attention and they're like, oh, wait a minute, you're right. That 50 bucks more that I want per month, I've already lost a whole, you know, year's worth of that if I let it sit an extra 30 days. So there, you know, having a good property management company isn't just collections, right? This is strategizing. If you're going to hire a property management company, trust that they're the local experts, right? Yeah, they shouldn't. Trust their their professional suggestions and recommendations on what you should set your rent at. And if you think that you're getting into a property that you have no wiggle room, you might want to second decide.

SPEAKER_02 10:01

You might want to second guess it because you do need that. You should have a range, you should have a bottom and a top of where you want to be, and you want to fall somewhere in between it. Of course, you want to get the top, but you may not be able to. But if you don't get the top and you're gonna be in trouble if you don't, that's not where you want to be.

SPEAKER_00 10:16

No, no.

SPEAKER_02 10:17

Um, so you know, there's you know, there's many ways of evaluating a property. And like I said, Zillow is one of the places that me and Shawnee use. We use that as a tool, but we also use um, we basically go out and we actually do street views as well. We look and just basically looking where this property sets, what's around it. We literally will go up and down the street to see what's around it, right? Um, you know, and how close is it to, you know, places like cities and like is it easy access to a lot of different things? So these all have influence on how quickly the properties will rent.

SPEAKER_01 10:51

Right.

SPEAKER_02 10:51

Um, but probably the biggest one is is what's around it. Because those are the things you can't change. We can change rent.

SPEAKER_01 10:57

Yeah.

SPEAKER_02 10:58

And what we know is all properties will rent, but they may not rent what an owner needs them to rent it.

SPEAKER_01 11:04

Yeah.

SPEAKER_02 11:05

You know, so that's always the challenge. So we know we're gonna rent it, but we're gonna have to keep bringing that pricing down until we get to that point where somebody says, yes. You know, so that's that's uh one of the two of the ways

Street Context You Cannot Fix

SPEAKER_02 11:18

that we actually do. We also use um AI.

SPEAKER_00 11:21

Yes, we do.

SPEAKER_02 11:22

Um, it it does work well, but again, it gives you averages, it doesn't give you exacts of where you should be, it gives you ranges of where you should be, you know, where you should be. And after that, then it's me and Shauna putting our heads together to try to figure out, okay, we've seen all the facts.

SPEAKER_01 11:40

Yep.

SPEAKER_02 11:41

And then we also have a good idea what properties rent at because we've done this for so long.

SPEAKER_01 11:46

Yeah.

SPEAKER_02 11:46

We see that hey, when we rent properties as a you know at a certain price, we kind of know where they're gonna fall. We kind of know that, hey, we've we kind of pushed it a little bit, we can almost kind of tell where it's gonna settle in. We say, ah, you know what, this is probably gonna come in around this mark, and we're usually pretty close. Yeah, but that's because of looking at all of those things. It's not like taking any one and saying, This is it.

SPEAKER_00 12:08

Right. No, that's true. And and I know a lot of times that I've spoken to a property owner or you have, and you'll send it to me or vice versa, and be like, hey, what do you what do you think? Can you look at this and tell me what you think you know we can get? You've already got a price in mind, and then I'll come back or same. You know, we are so close just because we've done this for so long. We don't, you know, a lot of times, like, yes, we use the Zillows of the world, yes, we use a couple other means and boots on the ground, but we have a whole portfolio here that we have under management that we also look at every single day. You know, and nine times out of 10, we already have had a few properties in the area that they're asking us to, you know, do rental prices in. So it and just with the experience, you know, just here in Northeast Ohio, we do the Cannon, Akron, and Cleveland areas. And between Rick and I, we've done this for over 30 years, you know, combined. So it's almost like second nature to us now. Now, there will be times that an owner wants to push the envelope and we're like, all right, we can start there. We evaluate these things every week, right? So we'll be able to tell right off the bat if something is priced too high. You know, there are reasons when they're not getting any activity at all, usually. Or if it's getting a ton of activity, we get zero applications. There's two great indicators as is, you know, to tell whether it's too high or not.

SPEAKER_02 13:37

Well, and we have history. Absolutely. That's the other thing, is we have history in our system, so we can see what three ones have gone for, four ones have gone for, you know, and just the very near, you know, recent past. So we can see that. So we kind of know whether, and and they're in and around the same zip code, so we have a pretty good track record. We can actually see what they've rented for, which is what you can't get right off of Zillow, right? That's right. Can't see what it's actually rented for, but we get to see their side of it. That's right. So property lists at this price, we get to see what they actually go for, and then you can start to kind of build your knowledge on that is is just the experience of seeing what they actually rent for and uh just understanding that.

Condition And Cleanliness Drive Demand

SPEAKER_00 14:19

Yeah, so outside of neighborhoods, um, as we know, like with all the areas that we service, it could be spotty. Two streets could be good, and then two streets couldn't. But outside of that and what sits next to it, um, one of the biggest things that you said early on in this podcast was condition. So, condition of a property, you know, we we like to see the inside of it because pictures are great. Everybody makes their pictures look great, but we'll be able to tell right off the bat when we go look at it, like, okay, that's not gonna fly, or hey, that looks really nice. And, you know, what are most of the things that we always talk about in condition that most people look for? What are they? Cleanliness?

SPEAKER_02 15:06

Cleanliness is probably number one.

SPEAKER_00 15:07

It's the number one. Yes. So if you walk into a house and it's inviting, it smells good, they will overlook a couple things. And and when I say they, I'm talking prospective tenants, right? I mean anyone, any consumer can walk in, and if it's inviting, it smells good. It's it's appealing to the eye overall. They're not really going to um really point out, you know, a couple little nail holes. Or, you know, you know, I don't know, the the baseboards and the walls are painted the same, or whatever it is. You know what I mean? They're not really looking for that. They're looking for clean. They're looking for clean.

SPEAKER_02 15:47

Isn't that it's so crazy that's actually the least expensive thing to do to bring a house up to where it's you know rentable and people are gonna come in because to your point, when it smells good and it looks good, because believe it or not, they're gonna go in, they're gonna open up all the drawers, they're gonna open the closets, they're gonna look in all these places. They look in the basement. Some of the places that, you know, from years and years of showing properties, the first place they go, the basement.

SPEAKER_00 16:15

Yep.

SPEAKER_02 16:16

Now, you don't think that would be where you would go?

SPEAKER_00 16:20

No, no, no.

SPEAKER_02 16:21

That first place they do is go downstairs. The basement looks good. They're already like, okay, wow, this is okay. Basement is taken care of. So, you know, those drawers and inside the cupboards, all the little nooks and crannies where you think people aren't looking, they are looking.

SPEAKER_01 16:33

Yeah.

SPEAKER_02 16:34

You know, so that cleanliness is just a big one. And to your point, they will overlook, you know, if there's a nail hole in the wall. Or, you know, the small stuff, scrapes and scuffs in the floor.

SPEAKER_00 16:45

They overlook a lot of those things. Right, right.

SPEAKER_02 16:47

But cleanliness is one that they won't.

SPEAKER_00 16:49

Right. Yep, no, I agree. And not that, you know, we're not saying that um somebody comes in and there's two houses to choose from and they won't choose something that's more updated. I mean, updates are great. That's awesome. Those are definitely welcoming. Um, but if they're looking in a certain price range and this is something that falls in a price range and it's clean over something else, because we've in the past we have been the people showing the properties, right? Right. Before we have had leasing agents um doing it. And so many times we would get, oh, you guys have such good properties. I've come from, I just looked at 10 and none of them have been this clean. You guys have, you know, all the best properties. And we've heard that over the years so many times. And it honestly, it floors me because I'm like, you know, it's doesn't some of the houses don't have all the great updates, you know, but it's clean.

SPEAKER_01 17:46

Yeah.

SPEAKER_00 17:47

And it smells good. And, you know, just even your leasing agents, I don't think that's one that we've touched on. Leasing agents can make a difference, right?

SPEAKER_02 17:57

Oh, yeah.

SPEAKER_00 17:58

If somebody wants to rent a property or not.

SPEAKER_02 18:01

Absolutely.

SPEAKER_00 18:01

I mean, the knowledge that they have, the friendliness, making them feel welcome. I just thought of that as soon as I said that. I was like, you know what? It's the people themselves too.

SPEAKER_02 18:11

Yeah, it does. There's no doubt about it. When an agent comes in and he's knowledgeable about, you know, the process. Because they're gonna figure out that property quickly.

SPEAKER_01 18:20

Yeah.

SPEAKER_02 18:20

But just being friendly, understanding the process, you know, understanding uh, you know, what questions um they need to be knowledgeable about, and understanding that, you know, it's you're not gonna be able to tell them everything, but you need to know enough. Yeah. You need to know enough to educate people.

SPEAKER_00 18:40

Listening to what people got going on, you know that there's sometimes stories to be told, and they're they're they're good listeners, you know, good communicators, knowledgeable and ready to just what ready and willing to answer those questions. So I think that really makes a difference too. If somebody they know that the property is being managed and those are the our releasing agents are representations of, you know, the company. So that just that was another thing.

SPEAKER_02 19:04

Yeah,

Listings Photos And Showing Strategy

SPEAKER_02 19:05

so you think about, okay, so we've kind of talked about the you know how to price a property, what the things that go into that, but you know, I think the the next step is like, you know, hey, after an owner gets on board, whatever, you know, whatever property management company they go with, they get on board, everything's good, the place is vacant. Then what happens?

SPEAKER_01 19:25

Right.

SPEAKER_02 19:25

You know, what's the next step? Right. You know, we've already kind of got a price in mind, you know, then it comes to it comes down to, okay, so we're gonna advertise this property.

SPEAKER_01 19:34

Yep.

SPEAKER_02 19:35

You know, so we're gonna get this property, you know, we're gonna get pictures of this property, we're gonna try to get, you know, really good solid pictures because believe it or not, um, you know, when people read the verbiage, it could be very eloquent. But if the pictures tell the story. Yes. You know, as we've talked about here today, the pictures tell the story. So that's one of the things that we're gonna go out there to do. We're gonna get good pictures, get all the angles, make sure the property looks as good as it can can look. But on the other side of that, we're also gonna at that point when we're taking these pictures, if we see anything that's glaring, we're gonna let that owner know. Yeah. Hey, we're gonna have to take some pictures, a couple of these things, you know, probably should be managed because it's gonna, it's gonna hurt you in showing.

SPEAKER_00 20:19

So, yes, yeah.

SPEAKER_02 20:20

So that's kind of the first step.

SPEAKER_00 20:22

Right.

SPEAKER_02 20:23

Okay. You know, once we have those pictures and things, then we basically we load them in to our system and um they get syndicated out to all of the uh all the platforms. The Zillows, you know, the realtor.com.

SPEAKER_00 20:41

So there's quite a few of the bigger ones, and they do go on all the bigger ones. Yes. And then a host of smaller ones. Yeah, the bunch of things.

SPEAKER_02 20:49

Probably I think there's probably 30 altogether. But the the big ones are where most people spend their time.

SPEAKER_01 20:55

Yeah.

SPEAKER_02 20:55

You know, so you know, at that point, you know, now we've got the properties on the market. You know, these properties are out on the market and they're, you know, uh they're getting views.

SPEAKER_01 21:05

Yeah.

SPEAKER_02 21:05

You know, and we have a system in place that will allow people to book showings, yeah. You know, online. Okay. So they show up in our our you know, agents' calendars and they go out and they show these properties.

SPEAKER_01 21:19

Yeah.

SPEAKER_02 21:19

Okay. Um, so that's one of the other things that you know that kind of starts that process. Okay.

SPEAKER_00 21:28

Okay. And the way we do it is um, you know, just overall process. We found the best way to go about that if you've got a good property management company. They're they're not doing phone calls and scheduling privately. They're doing open schedules, um, open house style showings, gets as many qualified people in there as possible. That way, the more people that can come through, the more applications we can have, right? And then we do run the applications.

Screening Credit Scores And Compliance

SPEAKER_00 22:03

Should somebody apply? And then there is specific tenant screening criteria, right? Yes. That we use. And we've kind of we've been playing around with it a little bit. Yes, over, so Icon is five years old. And in the beginning with some of our tenant screening policies, we didn't do credit scores. And probably what, three years in, we've probably that third year.

SPEAKER_01 22:31

Third year, yeah.

SPEAKER_00 22:32

We found that we've had a ton of evictions coming through. And there, so we sat down as a team, strategized, discussed that, and then we added that credit score, that minimum credit score. And we've tested it for like the last year, year and a half now, and I think it it has helped. Um, our collections department for sure.

SPEAKER_01 22:55

Yeah.

SPEAKER_00 22:56

Uh it seems to it seems to have been able to allow us to bring in some better qualified tenants. Yes, our property owners may have to wait just a little bit longer to get them rented, but you're finding a good solid tenant.

SPEAKER_02 23:13

Yeah, somebody that, you know, the main thing is we don't want to put somebody in a property that is going to struggle in that property anyways. It creates problems all across the board. It creates problems for the owner, creates problems for the tenants. Yeah. We don't want to see tenants get evicted, any of those things. Right. Because it's very difficult for them to rent again if that happens. So that credit score really makes sure that you are putting the most qualified person you can in there based on the information you have. Because that's always the key thing. It's based on the information you have.

SPEAKER_00 23:48

Yeah, we don't we don't know these people. We don't and we don't know what their character is.

SPEAKER_02 23:52

And sometimes, you know, people look great on paper. We just don't know how they're going to perform at the property. As much as I would say, probably the biggest question that I get is, well, what do you from an owner, well, what do you think about the tenant? Yes. And I just, you know, tell potential owners, you know, that, hey, look, I kind of got out of that game of thinking about those things because too many times we've had people that just look great. Right. And um, you know, it ends up not working out that way. So there's just no, there's no silver bullet and and how somebody's going to perform with their when it's property. And there's a lot of things that are out of the tenant's control too, when you think about it.

SPEAKER_01 24:32

Yeah.

SPEAKER_02 24:32

They could lose a job.

SPEAKER_01 24:33

Yeah.

SPEAKER_02 24:34

You know, and you know, many people, you know, they're paycheck to paycheck. You know, so these things can happen. So, you know, you just do the best you can with the information you have to find the best potential tenant.

SPEAKER_00 24:46

Yeah, for sure. Nope, I agree. Um I don't think there's, you know, really much more that you can even say about that. Um, again, probably in your search of finding a good property manager is you might get a little taken back by the fact that they probably won't allow you to have a hand in that process. Um we approve the tenants, but we're approving the tenants based on a certain set of criteria. And because we're here to keep our property owners in compliance, we take that, we take those reins, right? We do the approvals because our number one goal for our clients is to keep them in compliance.

SPEAKER_02 25:31

And clients don't understand. And they do not have to understand compliance to a client, it's like it they don't understand what goes into it. They don't understand the repercussions of what could happen if somebody steps outside of that.

SPEAKER_01 25:44

Yep, yep.

SPEAKER_02 25:45

You know, so you know, ultimately, you know, we try to, if we're if we've got something that's on the edge or and and we're we're thinking about it, we run these things past and always say, hey, here's a couple areas that we had concerns about. They're a solid solid tenant, other than that, and we try to get some feedback from the from the owner about that.

SPEAKER_00 26:05

For sure. Yeah.

Trust The Process And Wrap Up

SPEAKER_00 26:07

So overall, um we've talked about strategizing for pricing. We've talked about some of the things that go into that, right? Talked about some of the ideas that we recommend you looking for in when you're choosing a good property manager. Um, it's always good to choose that property manager as a partner before you get into buying properties. But if you don't, it's okay. Um, we will do our best, right, to get the price that you need and at least start to create that profit for you. Um and I think one of the biggest things that we've gone over today is trust the property management company because they're local, they're experts, they've been doing this a while. If they're good, they've got a track record, right?

SPEAKER_01 26:54

Right.

SPEAKER_00 26:55

Um, and then um how we you know go about screening tenants or um and what we have found, the the good and the bad, because we've tried, you know, a couple different things over the years, and I think that we've got a good strategy now for that. Um and I think that's it. Yeah. Is there anything else you want to add?

SPEAKER_02 27:13

No, I think that's it. So we're gonna that's a good place to wrap the podcast up. So we will catch up with you the next time.

SPEAKER_00 27:20

Yeah, thanks for watching. Um, if you're new here, um, you know, hit the like and subscribe button. We would like to see you come back so that you can get more familiar with who we are. Um, again, I'm Shauna. This is Rick. We're with the Rick and Shauna team of Icon Property Management. We're a local property management company in the Northeast Ohio area. We cover Canton, Akron, Cleveland, so that would be the Stark Summit in Cuyahoga counties. Um and anything else?

SPEAKER_02 27:51

I think that's it.

SPEAKER_00 27:52

All right, on our next podcast, we're going to have a guest. So stay tuned for that. Lots of good information. We've talked about the rental pricing, the strategies, the tenant screening, the rehabs, um, you know, what a property should look like, condition, neighborhood, things like that. But we've got it from the other side, from the other point of view, from an investor. That's correct.

SPEAKER_02 28:14

So how they do it. Yes. So how they look at, you know, when they're looking at properties, how are they evaluating properties and and making these decisions? Yes. Which is basically what we're talking about making that kind of a decision. That's right. To actually buy a property.

SPEAKER_00 28:29

Yeah. So you've heard of it from a property manager standpoint. On the next episode, you'll hear it from an investor standpoint. Thanks for watching.