What is the best way to calculate the rent of a property?
3 thoughts on “What is the best way to calculate the rent of a property?”
Iffy
The price similar properties rent for. You must be equal with the market. If everyone else gets 700 for a 1 bdrm apt then you must be close to that amount
Tracy
It’s typically about 1% of the value of the house. For instance, if the house would sell for $150,000, then you could expect monthly rent of $1500.00 If it’s a $300,000 House, then you’ll be looking at $3000 or so per month. Remember, this is just a good place to start. With the economy being down a bit, you may even be looking at around 3/4% of the value of the house. AND it depends on the area.
You can check Google Maps (then select “Real estate”) under advanced options to see what rents are going for in the area of the house you’re looking at.
Landlord
Calculate based on the current rents in your area for a simular property.
The price similar properties rent for. You must be equal with the market. If everyone else gets 700 for a 1 bdrm apt then you must be close to that amount
It’s typically about 1% of the value of the house. For instance, if the house would sell for $150,000, then you could expect monthly rent of $1500.00 If it’s a $300,000 House, then you’ll be looking at $3000 or so per month. Remember, this is just a good place to start. With the economy being down a bit, you may even be looking at around 3/4% of the value of the house. AND it depends on the area.
You can check Google Maps (then select “Real estate”) under advanced options to see what rents are going for in the area of the house you’re looking at.
Calculate based on the current rents in your area for a simular property.