for an apartment with two rooms, one bathroom, one kitchen and a small yard, in Flagstaff Arizona
rooms and kitchen are about 110 square feet each, bathroom is about 40 square feet
there will be no pets allowed
what would be a reasonable rent for a place like this?
2007-07-19 11:00:46 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
First, you figure out your cost for this unit. Figure any mortgage payment; add taxes, insurance, utilities, and reasonable maintenance expenses. That is your bottom line. If you can't rent it for at least that, it's time to sell it.
Then, research other similar apartments in the same area. You can check newspaper web sites; or google houses for rent. If you can afford to take a little less than the going rate, that will allow you to be picky about tenants.
Check out prospective tenants thoroughly. Make sure they are employed and have no criminal history. Insist on talking to everyone who will live there. Then, look at their car and drive by the place they're currently living at: are they taking care of them?
Hope this helps.
2007-07-19 11:08:21 · answer #1 · answered by Terri J 7 · 2⤊ 0⤋
If you have a mortgage on the house and want it zeroed out on your DTI (debt to income ratio) than you want to rent it out for 25% more than the total PITI payment. If the mortgage is $1000 you need a lease for $1250. Open the newspaper. Go see a few similar rentals and ask yourself "which place would I rent?" based on location, features and cost. Then price your rental accordingly. Right now in many areas the answer is $1 per foot. 500sq feet? $500 per month. This is typically a desireable area though, not in a war zone. If you're in a war zone it will be closer to fifty cent. In that range your average renter is looking for lowest rent.
2007-07-19 12:51:01 · answer #2 · answered by HelpMeSell.com 2 · 0⤊ 0⤋
Since I don't know the value of things in Arizona I can't say, but here's my opinion. Don't over charge because people have to live. I would rather charge a reasonable rate and try to keep good renters.
2007-07-19 11:05:40 · answer #3 · answered by Pearl 6 · 0⤊ 0⤋
$600
2007-07-19 11:02:50 · answer #4 · answered by Ultimate Guitar Hero! 5 · 0⤊ 0⤋
800 to 850 Make sure it covers your expenses as well. Depends on the utilities, are you going to maintain the yard, etc...
2007-07-19 11:04:07 · answer #5 · answered by Jen 4 · 0⤊ 0⤋
I suggest you look in ads for the side house and look what they are offering. Keep in mind if you have to pay for water, trash, gas, light., etc..
2007-07-19 11:04:54 · answer #6 · answered by Lydia 3 · 1⤊ 0⤋
look in your local paper at some "like" properties and see what they are renting for in your area...don't want to be too cheap and don't want to be too high either
2007-07-19 11:11:00 · answer #7 · answered by booger0819 3 · 1⤊ 0⤋
I would expect to pay around $400 per month there, but would not be disapointed if I were turned down, lol!!!!!!
2007-07-19 11:04:24 · answer #8 · answered by kaliroadrager 5 · 0⤊ 1⤋
$1150 a month + utilities
2007-07-19 11:03:18 · answer #9 · answered by blewjaye 4 · 0⤊ 1⤋
like 100 =monthly
2007-07-19 11:03:40 · answer #10 · answered by Anonymous · 0⤊ 2⤋