Rent

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This topic contains 5 replies, has 3 voices, and was last updated by  HeatherMc 2 months ago.

  • Author
    Posts
  • #1901

    Chelizno1103
    Participant

    How is rent typically determined on a rental property?

  • #1915

    StanleyDe49
    Participant

    It’s all about what the market can bear. If the block has three other similar houses for rent at $1,000, you aren’t likely to get much more than that.

    Of course you have to adjust for things like updates and amenities, but it’s really this simple.

    You can also use Zillow.com and rentometer.com to validate your numbers.

  • #1955

    Chelizno1103
    Participant

    Thank you Stanley

  • #1985

    StanleyDe49
    Participant

    Btw- I have seen people get away with asking for and then receiving much higher than market rent. This unfortunately also can lead to a higher probability of default once the tenant realizes it.

  • #1994

    Chelizno1103
    Participant

    Yea I would say so. It would probably make it harder to rent out

  • #2013

    HeatherMc
    Participant

    Good points, Stanley

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