Im looking to purchase a two family house and im going to rent out the other half but i dont how much should i rent it for? Is there like a standard or system i should reference?
2007-07-24 05:27:51 · 6 answers · asked by mrdrproffesorcrayon 1 in Business & Finance ➔ Renting & Real Estate
In Jamaica, Queens
2007-07-24 07:01:13 · update #1
Check the paper and local websites for places of the same size, number of bedrooms, same part of town and floor (or unit type) to compare. This trick gives you an overview whether you're in NY, Calgary...
http://www.calgary-city-maps.com/Calgary-home-for-rent.html
Or some place inbetween.
2007-07-24 17:43:33 · answer #1 · answered by Radiosonde 5 · 0⤊ 0⤋
2
2016-07-19 05:39:03 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You really haven't given much to work with. There bare a number of things to consider. The two biggest is what the condition of the 3 bedroom and what is included in the rent. The second thing to consider is what other similar properites are going for in the immediate area of the unit. Price it too high and it will stand empty for a long time along with a number of broken leases due to the high rent. Too low and you won't have any positive cash flow and you will have a hard time keeping it in good repair.pp
2007-07-24 05:42:03 · answer #3 · answered by ttpawpaw 7 · 0⤊ 0⤋
There is no standard unless your building/apartment happens to be a rent control area. You should check rental listings in your area for the best estimate and compare features to your apartment for adjustment.
For example, say your apartment has an alley kitchen, small living room, 1 bath and the 3 bedrooms and you find a listing for an apt with a full kitchen, dining room, sm. living room, 2 bath, and 3 bedroom, you would adjust the price down to account for the smaller kitchen/eating space and 1 less bathroom.
2007-07-24 05:39:22 · answer #4 · answered by life is good 6 · 0⤊ 0⤋
It would depend on what else it has besides 3 bedrooms. How spacious it is? What extras if any that it has? The location also means a lot. How convenient it is to certain things, etc. Maybe, you could check the rentals in the newspaper in N.Y. and get a better idea. I understand, apartments are very expensive in N. Y.
2007-07-24 06:19:03 · answer #5 · answered by Barbra 6 · 0⤊ 0⤋
Rent-To-Own Homes - http://RentToOwnHome.uzaev.com/?gDUc
2016-07-13 07:15:13 · answer #6 · answered by ? 3 · 0⤊ 0⤋
It would really help to know where.
Based off the info you gave I would say anywhere from 800 to 10k a month.
2007-07-24 05:31:57 · answer #7 · answered by Anonymous · 1⤊ 0⤋