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Landlords - how do you figure out what to charge?
Posted on 1/13/15 at 9:56 am
Posted on 1/13/15 at 9:56 am
Landlords - how do you figure out what to charge for rent?
6
Posted on 1/13/15 at 10:01 am to SpidermanTUba
I talked to the realtors in the area and they gave me the compls for the area. I was actually low and they told me what I could ask for. I used a realtor the second time and I hate having to pay that initial fee but to me it is worth it, because they do the background checks and make sure the people in there will pay.
Posted on 1/13/15 at 10:06 am to SpidermanTUba
Look at craigslist...look at the properties that are listed with similar specs. I always think as if I'm a renter....what is the place worth.
Posted on 1/13/15 at 10:09 am to SpidermanTUba
zillow, craigslist and the MLS
Posted on 1/13/15 at 10:37 am to SpidermanTUba
Between 0.8% and 1.1% of value, depending on the neighborhood.
A 100,000 house in a crappy neighborhood = $800/month
A $250,000 house in a good area with good public schools = $2750/month
A 100,000 house in a crappy neighborhood = $800/month
A $250,000 house in a good area with good public schools = $2750/month
Posted on 1/13/15 at 10:39 am to SpidermanTUba
Rentometer
Posted on 1/13/15 at 11:44 am to gizmoflak
Thanks for the advice.
We've had our place advertised at $1300 with very few bites.
We just cut it down to $1250 yesterday. Got a lot more bites just today. I think that's the magic number. Mebbe we could have gotten $1300 if we waited but we lose 43 bucks a day in rent for every day it goes vacant. Or maybe the increased number of bites has more to do with the 1st of February getting closer?
Next time it goes vacant I think I will look into getting a realtor to help.
We've had our place advertised at $1300 with very few bites.
We just cut it down to $1250 yesterday. Got a lot more bites just today. I think that's the magic number. Mebbe we could have gotten $1300 if we waited but we lose 43 bucks a day in rent for every day it goes vacant. Or maybe the increased number of bites has more to do with the 1st of February getting closer?
Next time it goes vacant I think I will look into getting a realtor to help.
This post was edited on 1/13/15 at 11:46 am
Posted on 1/13/15 at 12:40 pm to SpidermanTUba
its because we are getting close to the first of the month. I look for 4 to 5 emails per week. If I am getting that many emails per week I hold fast to my price. If not I drop it and relist it. I do find that you get FAR more replies towards the end of the month. What would a realtor charge you to list it?
Posted on 1/13/15 at 1:04 pm to SpidermanTUba
Put it on Zillow if you haven't already. It's free. Put nice pics. Zillow also shows nearby comps/rent.
Posted on 1/13/15 at 1:42 pm to GeeOH
quote:
Put it on Zillow if you haven't already. It's free. Put nice pics. Zillow also shows nearby comps/rent.
Didn't know about this
As for me, I just know what my mortgage payment is and I want at least 1-2% above that. And as others have mentioned, Craiglist will give you a good idea of comparables.
Posted on 1/13/15 at 8:44 pm to SpidermanTUba
We need rent control like in NYC so evil landlords like Spidey do not over charge for the slums they rent out. 
All the good liberals love rent control.
All the good liberals love rent control.
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