Property Manager Update – September 2017 Grand Rapids Rental Rates

Below are the Grand Rapids rental rates for the month ending September 2017.  As a professional property manager in Grand Rapids, MI we are always watching rental rates.  We have consulted with other landlords and property manager companies in the area and these numbers are pretty accurate.  We are all seeing rental rates dip a bit with the biggest hit being the higher priced properties.

Median Rent
1 BD SF	$877
1 BD Mutli Fam	$789
2 BD SF	$969
2 BD Mutli Fam	$962
3 BD SF	$1,207
3 BD Mutli Fam	$1,129
4 BD SF	$1,469
4 BD Mutli Fam	$1,251

$/SQFT
1 BD SF	$0.63
1 BD MF	$1.12
2 BD SF	$0.69
2 BD MF	$0.93
3 BD SF	$0.88
3 BD MF	$0.80
4 BD SF	$0.90
4 BD MF	$0.78

1 MO Change
49504 Change	$21.00
GR	-$47.00
Kent County	$3.00
MI Change	$0.00
3 MO Change
49504 Change	$8.00
GR	-$37.00
Kent County	$1.00
MI Change	$7.00
12 MO Change
49504 Change	-$8.00
GR	-$57.00
Kent County	-$8.00
MI Change	$12.00

HOW TO GET MORE FOR YOUR PROPERTY

There are a couple ways to get earn extra rental income.  Maybe the outside of the property looks bad or the kitchens/baths are older.  A little TLC can really clean up a property and add $25-$50/MO of extra income.  A property manager will typically be happy to walk through your property to give you ideas of how to raise income.

Maybe you have carports.  Have you ever thought about renting your carports out?  Most people will pay $25-$50/MO for a carport.

Rental rate information supplied by rentrange.com.  Simple Property Management does not guarantee these rental rates.  If you are looking for spot on rental rates, contact us today!

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Simple Property Management is a leading Grand Rapids property management company and specializes in working with property owners with one to 30 rental units. You can contact us at 616-329-6318 or info@simplepmgroup.com