Rental income is what you collect minus what it costs to run the home. You can raise it by pricing well, keeping the home leased, keeping good residents and controlling costs. Here’s how each one works in the Gallatin Valley.
1. Price from current data
Set rent from current comparable homes nearby with similar size, condition, parking, yard and pet policy. Price too high and the home sits; price too low and you lose money every month of the lease. Review rent every year before renewal. Every MVPM plan includes an annual market rent analysis.
2. Plan lease timing
In Bozeman, demand follows the Montana State University calendar and the summer moving season. Setting lease end dates so that homes come up when demand is strong can shorten vacancy. When you sign a new lease, think about what month it will end.
3. Make the home rent-ready
- Finish repairs before photos and showings.
- Use professional photography (included on Signature and Summit, $349 on Essentials) and a 3D tour where it helps.
- Small upgrades that residents notice, such as lighting, fixtures, paint and appliances, usually pay back faster than big remodels.
4. Keep good residents
Every turnover costs a leasing fee, make-ready work and vacant days. Residents tend to stay when repairs are handled promptly, communication is clear, and renewal increases follow the market. Offer renewals early.
5. Screen consistently
A careful, fair screening process reduces late payments, damage and evictions. Apply the same written criteria to every applicant. See our Montana tenant screening guide.
6. Control costs
- Preventive maintenance costs less than emergency repairs. See our maintenance checklist.
- Get vendor invoices and compare costs over time.
- Review insurance and property taxes each year.
- Keep records so you can claim every deductible expense.
7. Add services residents value
Pet-friendly policies with screening, pet deposits or pet rent can widen your applicant pool. Assistance animals aren’t pets, so pet fees don’t apply to them. Resident-paid options, such as our Resident Benefits Package ($39/mo) and highlight wall color ($299 per wall), are available on every plan.
8. Track the right numbers
Track gross rent collected, operating expenses, vacant days, turnover costs and net income each year. Your monthly owner statements and year-end 1099 make this easier.
What our plans cost
Mountain Village Property Management offers three plans. Every fee is in writing in your agreement before you sign.
| Essentials | Signature | Summit | |
|---|---|---|---|
| Monthly management | 4.9% of rent + $69/mo | 6.9% of rent + $69/mo | 8.9% of rent + $69/mo |
| Leasing fee | 50% of one month’s rent | 50% of one month’s rent | 50% of one month’s rent |
| Lease renewal | 25% of one month’s rent | 25% of one month’s rent | 25% of one month’s rent |
| Set-up fee | $299 one-time | None | None |
| Maintenance coordination | $99 per work order | Included | Included |
| 24/7 emergency line for residents | $29/mo add-on | Included | Included |
Our management percentage pauses while a home is vacant; the $69 monthly admin fee continues. Third-party costs may include a coordination markup of up to 7.5% (3% on recurring bills), as set out in the agreement. Compare every plan detail and add-on price.
Frequently asked questions
How often should I raise the rent?
Review it every year at renewal against current comparables. Steady, market-based increases usually keep good residents longer than big jumps.
Should I furnish my rental?
We focus on long-term unfurnished rentals. Furnishing adds cost and wear, and usually suits a different kind of rental.
Is pet-friendly worth it?
Often, yes. Screen pets, use a clear pet policy, and document the home’s condition. Pet inspections are included on Summit, $79 on Signature and $99 on Essentials.
Talk to a local Bozeman team
We manage long-term rentals in Bozeman, Belgrade, Livingston, Gallatin Gateway, Manhattan and Three Forks from our office on W Babcock St in Bozeman. We’re rated 5.0 on Google (16 reviews). Request a free rental analysis and we’ll walk you through what your home could rent for and which plan fits.