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Started By
Message
How much does rent increase with extras in a rent house?
Posted on 7/11/17 at 1:41 am
Posted on 7/11/17 at 1:41 am
Have a house in neighborhood that the asking rent is $750 per month. Only extras are refrigerator and stove. This is a 2 bedroom 1 bath rent house.
Wife and I are in the process of building house and would like to get a better idea of what we should be asking per month for our home that we plan on renting out. We plan on leaving the washer dryer, stove, refrigerator, microwave and two bedroom sets with dressers and bed frames. House is 3 bedrooms and 1 bathroom. We also have central AC and Heating. Any ideas would be greatly appreciated.
Wife and I are in the process of building house and would like to get a better idea of what we should be asking per month for our home that we plan on renting out. We plan on leaving the washer dryer, stove, refrigerator, microwave and two bedroom sets with dressers and bed frames. House is 3 bedrooms and 1 bathroom. We also have central AC and Heating. Any ideas would be greatly appreciated.
Posted on 7/11/17 at 2:10 am to shoelessjoe
What city are we talking about here? Can't be Baton Rouge paying $750 a month or I know for a fact you're on plank Rd at the nearest meth house.
Realistically though, typically 0.6-0.8% of your home value. Look on zillow and compare homes from your neighborhood or surrounding area. It'll give you a general idea of what people are asking/willing to pay.
Edit: forgot to mention, a lot of people don't just have a washer/dryer/fridge laying around to bring with them when renting a place. 99% of properties I see include them. It's kinda shitty if you don't and will have to find that 1/100 tenant who has those items laying around
Realistically though, typically 0.6-0.8% of your home value. Look on zillow and compare homes from your neighborhood or surrounding area. It'll give you a general idea of what people are asking/willing to pay.
Edit: forgot to mention, a lot of people don't just have a washer/dryer/fridge laying around to bring with them when renting a place. 99% of properties I see include them. It's kinda shitty if you don't and will have to find that 1/100 tenant who has those items laying around
This post was edited on 7/11/17 at 2:14 am
Posted on 7/11/17 at 2:11 am to shoelessjoe
quote:
We plan on leaving the washer dryer, stove, refrigerator, microwave
These aren't extras imo.
Posted on 7/11/17 at 2:14 am to shoelessjoe
Nobody who rents owns a refrigerator, stove, or washer/dryer. Those pretty much need to be there if you plan on finding a tenant. You could charge a little extra for furnished bedrooms, though
Posted on 7/11/17 at 2:20 am to shoelessjoe
I rent my rent house for $950 plus utilities in Watson and it only has a stove and ac. No fridge, no washer and dryer, no microwave etc. The more appliances the more maintenance. Fug dat headache.
1200 sq ft. Much older home.
1200 sq ft. Much older home.
This post was edited on 7/11/17 at 2:21 am
Posted on 7/11/17 at 2:24 am to tigerbutt
It's in the surrounding Thibodaux area. Does the central AC and heart add value.
Posted on 7/11/17 at 2:39 am to shoelessjoe
It adds value but not something you can really charge extra for. You chose to have/add that so you're really not giving a tenant anything "extra"
You could charge extra for things like furniture, hard wood floors compared to carpet, updated appliances
You could charge extra for things like furniture, hard wood floors compared to carpet, updated appliances
Posted on 7/11/17 at 2:45 am to Tres7139
Ok then if the house next to me is renting 750 with 2 bedrooms. How much should I ask for with 3 bedrooms?
Posted on 7/11/17 at 2:59 am to tigerbutt
quote:
I rent my rent house for $950 plus utilities in Watson and it only has a stove and ac. No fridge, no washer and dryer, no microwave etc.
So how do tenants work with this?
Tbh, who the hell is going to rent a place and just have a fridge to plop in your shithole?
Posted on 7/11/17 at 3:20 am to shoelessjoe
Lot of posters w real estate rental experience on the money board.
Posted on 7/11/17 at 3:31 am to shoelessjoe
If the 2 br rents for 750 I would probably want 900 for the 3br. I think the beds won't add much unlike others. The renters, if career renters should have furniture. With yours they now have to pay for a storage unit.
Posted on 7/11/17 at 3:36 am to Jones
quote:
Tbh, who the hell is going to rent a place and just have a fridge to plop in your shithole?
Considering I've been renting it for 12 years straight now it isn't hard to do when you are in an area that is desired for the school district. Every tenant has had their own washer and dryer. I use to have a fridge in it but every tenant would generally have their own and request not to use the one I had so I got tired of moving it in and out. I've had zero problems renting mine and in fact I've never had to advertise as it has always been word of mouth.
Posted on 7/11/17 at 4:24 am to shoelessjoe
Another way to look at it is you want to rent for at least 20% - 25% more a month than it costs you so you can put money aside for future maintenance and earlier payoff and/or cash flow.
Another benchmark I've seen is 1/100th of the property market value, plus or minus depending on condition, extras and desireability of the area. So a house worth $150,000 could have a monthly rent of $1,500, adjusted for the above factors.
Another benchmark I've seen is 1/100th of the property market value, plus or minus depending on condition, extras and desireability of the area. So a house worth $150,000 could have a monthly rent of $1,500, adjusted for the above factors.
Posted on 7/11/17 at 6:08 am to shoelessjoe
About halfway between $300 and $400.
Posted on 7/11/17 at 6:15 am to shoelessjoe
If it's around thibodaux, you should be able to find like properties for rent to compare since it's sort of a college town. That's really the only thing to go off of. Unless it's actually out in a cane field in BFE. Not saying any place is required to have the amenities you stated, but everywhere I've been, it's pretty much standard. So I don't think it moves the price much. But 3 bedrooms is definitely a different ballgame than 2.
Posted on 7/11/17 at 6:17 am to Bullfrog
I have several rental properties in decent neighborhoods and have always used the formula of $.50 per square foot and then round up or down some.
1450 sq ft x $.50 and I get $800/month
1450 sq ft x $.50 and I get $800/month
Posted on 7/11/17 at 6:18 am to Lee to Toliver
The only house I've rented lately didn't include any of that except a stove. If the house would have included fridge, washer/dryer, microwave I would have asked the landlord to remove them because I'd have had to pay for storage for mine.
Posted on 7/11/17 at 6:19 am to shoelessjoe
I looked at what people were charging in the area. I always included fridge, stove, and microwave, dishwasher. I like the fridgiare Gallery line as my friend gives who sells and services them gives me a fair deal on this line compared to Whirlpool and GE. I do not include washer and dryer as most my tenants have these items. I get $1,500 a month on 1400 sq ft homes in S Baton Rouge decent non flood area. That price includes bi weekly lawn maintenance.
When I had apartments and duplexes in NBR. You have to included everything and go cheap on your appliances (hot point or something similar). I had tenants try to sell my appliances to the pawn shop or their friends. Depending on area I was getting $750 to $800 (longtime elderly tenants $550 to $600) in Redoaks while section 8 was paying $1,500 for Similar units not updated. Section 8 tenants will usually leave your place trashed and not worth the extra money.
Now before I sold my units I paid $50k a duplex. The newer landlords are or were buying them for around $100,000. I feel these places peaked in value at $100,000 as Redoaks is a war zone now. Mine were also paid off and I was making a good return on my investment until the hurricane Katrina refugees destroyed the area.
When I had apartments and duplexes in NBR. You have to included everything and go cheap on your appliances (hot point or something similar). I had tenants try to sell my appliances to the pawn shop or their friends. Depending on area I was getting $750 to $800 (longtime elderly tenants $550 to $600) in Redoaks while section 8 was paying $1,500 for Similar units not updated. Section 8 tenants will usually leave your place trashed and not worth the extra money.
Now before I sold my units I paid $50k a duplex. The newer landlords are or were buying them for around $100,000. I feel these places peaked in value at $100,000 as Redoaks is a war zone now. Mine were also paid off and I was making a good return on my investment until the hurricane Katrina refugees destroyed the area.
This post was edited on 7/11/17 at 6:21 am
Posted on 7/11/17 at 7:37 am to shoelessjoe
850. Where about? Big yard? I'm always on the look out for a new place to live. Is it in schriever?
Is your name John shaver by chance?
Is your name John shaver by chance?
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