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Updated about 8 years ago,
How to command a higher rent?
I've bought a rental property recently, my first one, and am looking at similar units nearby for the market rate of rentals.
To be able to cash flow, I need to charge a monthly rental of about $800. However, when I did a bit of research, I noticed that bigger units rent for the same amount (say, both are even in the same location).
My question is, how do I justify renting out my unit at the same price if it's smaller? What other factors can I improve on to compensate for the unit's size?