Whats the markup or charge base or rental property?

[flamingelephant]

If you own a house and rent it out, how much do you charge? Lets say your paying a morgage of 500/m... how much would you charge the people renting it? IF your house was worth 150k and paid off, how much would you charge? Is there a standard mark-up?

 

[richardycc]

find out what others are charging in the area, and adjust your rent accordingly.

 

[rpberry123]

the going rate is determined by 3 main factors:

1 what simular properties are renting for in your area
2 what you think the costs of maintenance/repairs/etc. will be from year to year
3 if you decide to use or not use a property management firm to handle your asset

 

[Garet Jax]

Originally posted by: richardycc
find out what others are charging in the area, and adjust your rent accordingly.

Absolutely. If your house is in SF, then you could charge more than if you house was in the boonies in a mid western state.

 

[Sluggo]

There isnt any kind of standard.

You can only rent it for as much as your market will support.

Sometimes you even have to rent a house for less than the payment. :Q