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Updated over 6 years ago,
Tenant or me pay utilities / Rent individual room vs entire house
Hey everyone,
So I've recently purchased a four bed - 2 bath in Pittsburgh, PA and have two questions concerning the monthly rent.
1. I am currently charging $450 / room. Should I bump the price up to $500 including utilities? Or should I leave it at 450 + utilities? I'm house hacking, so I'll be living in one of the rooms.
2. The houses in the area as a whole are renting anywhere from 1k-2k for a four bed - 2 baths. The houses going for 2k are A houses, my house is probably a B- house. The neighborhood is probably a B. I'm wondering why people don't charge rent/room instead of charging rent / entire house. It seems like there is so much more opportunity for cashflow.
This is my first rental home and am not sure how I should set my rent.