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In last month’s article, I provided 14 tips to become a more profitable landlord. How do you know what to charge for rent? Your local market’s recent leasing history is most important.
Rental rates are highly dependent on what similar properties have leased for during the previous three to six months. This information is readily available to most Realtors, so having a relationship with a Realtor is helpful. Alternatively, for a small fee, visit Zilpy.com to research rental rates for comparable homes in your specific market.
When setting your rental rate, be aware of the market and price competitively.
– Scott Korbin, Coldwell Banker HPW