U S A F Academy, CO · Member since 2012 · 50 posts · 0 votes
how do I figure out the fair rent value of the size of house I have in my neighborhood? is it based more on price of the home or the neighborhood. How do I figure out what to charge. Renter pays utilities.
Rental Property Investor · Oklahoma City, OK · Member since 2013 · 1k+ posts · 412 votes
13y
You can start by searching Craigslist for similar properties. If you are intimately familiar with your area, you will learn a great deal from there and from similar advertising sites. If you don't know the area as well, you need to do some driving... For instance, choose a few homes that seem similar and go have a look. Zillow gives rent "zestimates" but they are ballpark at best and can be pretty awful.
U S A F Academy, CO · Member since 2012 · 50 posts · 0 votes
13y
one of the difficult things with this property is it is a 4 bedroom. but the 4th bedroom is on an attached separate guest house which has its own kitchen as well. So its hard to find another house just like that... with the guest house that is. I could find another 4 bedroom but how much more would It be worth with it having an attached guest house with own kitchen?
Colby Miles,
Is this house set up to be used as an "In-law" apartment?
Are you trying to rent this as a One Family with 4 bedrooms, and 2 kitchens?
If you are, I wouldn't count on the 2nd kitchen getting you any additional income.
U S A F Academy, CO · Member since 2012 · 50 posts · 0 votes
13y
Originally posted by Raymond B.:
Colby Miles,
Is this house set up to be used as an "In-law" apartment?
Are you trying to rent this as a One Family with 4 bedrooms, and 2 kitchens?
If you are, I wouldn't count on the 2nd kitchen getting you any additional income.
Raymond
Yeah thats right. It is a "in law" apartment, and yes. renting to single family 4 bedroom in Manchester, CT.
Property Manager · Rocklin, CA · Member since 2013 · 21 posts · 7 votes
13y
There is a website called www.padmapper.com. It searches other websites for rental ads and displays them all on a map so you can see what is around you and what it is renting for. It has a filter so it will only display 4 beds if that is what you want.
The first thing you should do is find properties that are the same size and condition and do a $/sq ft comparison. That will get you a ball park. Then make small adjustments based on amenities.
Arlington, TX · Member since 2013 · 62 posts · 11 votes
13y
Have you considered renting the property as two units? The house as one and the "in-law" suite as another? Often times this is easier and more profitable.