How much should I charge for rent?

[TooOne21]

What would you (ATOT members) recommend I charge for rent Per DAY for a house that is:

1600 sqft.
3 bedrooms
1 bath
1 car garage
living room
dining room
kitchen
basement

Upscale village neighborhood

Let me know what other information you would need to determine this PER DAY rate.

Thank you.

 

[minendo]

Such a place would go for about $1000-1500 per month around here. So $33-$50 per day. Of course I would want to charge more to cover any possible damages.

 

[vi edit]

Uhhh, day rates could be double to triple depending COMPLETELY on location.

 

[vi edit]

Also, what sort of renter are you looking to rent to? Family vacationers? Corporate type on business trips? College students? Ect?

 

[hawkeye81x]

Originally posted by: vi_edit
Uhhh, day rates could be double to triple depending COMPLETELY on location.

True.
Unless you expect full and well that your place is gonna be booked everyday, you might want to consider something higher than $50 a day (considering one can get similar rates for upscale hotel rooms).
Film crews I believe also pay much higher to rent homes for film shoots at a much higher rate than $50/day...

 

[TooOne21]

EDIT

I am sorry I left out an important part.

This is only going to be a temporary rental.

The current owner of the house I am buying is going to need about 7 - 14 days after the close of the house.

We may have to charge him on a PER DAY basis.

LOCATION:

Suburban Village. Middle - Upper Class.

 

[isaacmacdonald]

assuming you're close to a metro area, I'd expect to pay > 200.00/day.

 

[vi edit]

LOCATION:

Suburban Village. Middle - Upper Class.

That still doesn't tell me anything. What state & area. A middle-upper class place around here would go for $1000 a month.

In SOCAL that could be what, $2000 a month?

Personally, on a daily basis I would absolutely do no less than $100 a day. For the amenities provided, and the liabilities you have (mortgage, property taxes, insurance, ect) that is reasonable IMHO. If he wants to pay less, he can stop in at Super8.

 

[Fatalist]

If you are buying the house, calculate what your mortgage will be per month
including all taxes and insurance. Then prorate the amount by the number of days
the former owner will be renting, or a little more.

 

[NivekC4]

Not going to throw a number out there, but all i know is that you want the number to be beneficial to yourself since he is taking this additional time, and have this number be high enough so that gives the previous owner incentive to get out ASAP!

 

[Ameesh]

Originally posted by: TooOne21
What would you (ATOT members) recommend I charge for rent Per DAY for a house that is:

1600 sqft.
3 bedrooms
1 bath
1 car garage
living room
dining room
kitchen
basement

Upscale village neighborhood

Let me know what other information you would need to determine this PER DAY rate.

Thank you.

the rent in boise is differnt then la jolla.

 

What is the EXACT location?

 

[FoBoT]

Originally posted by: Fatalist
If you are buying the house, calculate what your mortgage will be per month
including all taxes and insurance. Then prorate the amount by the number of days
the former owner will be renting, or a little more.

^^^
this is a GOOD answer

i did this on the house i bought in 1993 and that is how it was done

the house was empty, so we moved in PRIOR to closing and paid rent until closing, the rate was set as Fatalist describes

 

[Noirish]

Originally posted by: TooOne21
EDIT

I am sorry I left out an important part.

This is only going to be a temporary rental.

The current owner of the house I am buying is going to need about 7 - 14 days after the close of the house.

We may have to charge him on a PER DAY basis.

LOCATION:

Suburban Village. Middle - Upper Class.

That's still not enough information...
State and City?