How do you price an apartment in Newark?
Compare 3 to 5 similar nearby apartments, then adjust for your unit. Price too high and it sits empty. Price right and it rents.
How do I compare, not guess?
- Find 3 to 5 similar apartments within a few blocks: same bedrooms, similar condition, similar floor.
- Note what each includes: heat, hot water, parking, laundry.
- Note how long each has been listed. A unit listed for weeks is priced too high.
How do I adjust for my unit?
- Better condition or newer finishes: toward the top of the range.
- Missing parking or laundry: toward the bottom.
- Heat included is worth more than heat not included.
What does an empty unit cost?
Every empty day is a day of lost rent. A $1,800 unit empty costs about $60 a day ($1,800 divided by 30, an example, not a market statistic). Use the vacancy calculator.
What if a voucher holder rents it?
The housing authority also checks that the rent is reasonable and sets limits by bedroom size. See how the rent is set and payment standards.
Can SubCity Group price it for me?
Yes. Send the address and SubCity Group prices it against comparable apartments. Send a vacancy.
Landlord questions, answered.
How do I price an apartment in Newark?
Compare 3 to 5 similar nearby apartments, then adjust for condition and what is included.
How long should an apartment sit vacant?
As short as possible, because every empty day is a day of lost rent.
Can SubCity Group price my apartment?
Yes. Send the address.
Got a vacancy? Send it over.
Send the address. SubCity Group markets the unit, screens applicants to your criteria, and handles the housing authority paperwork for voucher tenants. Leasing and placement only.
Go to the source.
- NJ DCA Landlord-Tenant Information - state tenant resources
- NJ DCA "Truth in Renting" guide (PDF) - the state tenant guide
- NJ: Get help as a renter or tenant - state help for renters