Germantown is a small market, which means the ordinary rules about comps and pricing work differently here than they do in a city with hundreds of comparable rentals.<\/p>\n\n\n\n
Dayton Proper manages single-family rentals in Germantown and the surrounding townships.<\/p>\n\n\n\n
In a market this size there may be only a handful of comparable rentals listed at any given moment. That has two consequences that pull in opposite directions.<\/p>\n\n\n\n
On the upside, you have very little direct competition. A well-presented Germantown rental is often the only serious option in its bracket, and that supports pricing.<\/p>\n\n\n\n
On the downside, the applicant pool is correspondingly thin. Miss on price and there is no deep bench of alternative applicants to correct the mistake — the unit simply sits, sometimes for a long time.<\/p>\n\n\n\n
In a deep market, mispricing costs you a couple of weeks. In a thin market it can cost you a season. We price Germantown against a wider geographic comp set and against actual signed leases rather than active listings, because active listings in a small market are frequently the properties that are mispriced.<\/p>\n\n\n\n
Germantown supports solid rents for well-presented properties precisely because there is so little competition, but the margin for pricing error is narrow. Overpricing here is punished more slowly and more expensively than in a deep market.<\/p>\n\n\n\n