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Updated about 3 years ago on . Most recent reply

Larry Scott Hastings's profile image
Larry Scott Hastings's profile image
Larry Scott Hastings
  • Member since Mar 21, 2019
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Larry Scott Hastings's profile image
Larry Scott Hastings's profile image
Larry Scott Hastings
  • Member since Mar 21, 2019
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Larry Scott Hastings
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General Landlording & Rental Properties

How to set a rent price for a long-time tenant.

Larry Scott Hastings
Posted

We have a couple who has rented a home from us for 20 years (long before we decided to take real estate investing seriously). We're currently renting it for $2300.

We know we need to increase rent on the property, but how much? One online estimator (Bigger Pockets) says rent should be about $2800, and another (Zillow) says $4800. That's a wide gap!

What's the smart way to determine rent on this property?

--Scott

Austin, Texas
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