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Updated almost 6 years ago,
Converting primary residence to rental
We currently live in a 1250sqft 3bd 2 bath bungalow with basement and double garage.
It’s come time to upgrade and rather than sell which will cost quite a bit I’d like to rent it out.
Here’s my initial breakdown:
$1290 mortgage
$300 taxes
$50 insurance
$150 vacancy and maintenance
So to break even I’d need to charge $1800/month. Best I can tell is I should be able to get that in todays market. But is there anything I could do to raise the units appeal or even increase the rental rate to $1900/month?