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Updated about 3 years ago,

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3
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1
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Morgan Kennedy
1
Votes |
3
Posts

Pricing a Rental in CT

Morgan Kennedy
Posted

Hi All, Thanks for taking the time to read, and I'll keep this succinct:

I recently purchased a rental property in the Middletown CT area and it required a lot of work. I know what the rents were before, but am trying to get an opinion on what they should be going forward. Does anyone have a solid resource for pricing rents based on a revised property condition, or would be interested in providing some guidance on pricing it? 

Some basics: 
2x Units - located on the 2nd & 3rd Fl, ea is 950 sqft, they are 3bed 1bath, off street parking, electric utilities not included, includes washer/dryer/dishwasher/stove in unit. New flooring, new drywall, redone bathrooms,  Old rents were <1k (legacy tenants who moved out pre-purchase) which was known to be below market. 

Thanks - I can provide pictures, or would appreciate any input. 

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