How much can I charge for rent?
When you decide to rent your home or investment property, you want to make the most amount of money without having lengthy vacancy periods. But there are a lot of factors that go into determining how much you can charge for rent—if you set the price too high, no one will be interested in renting, but if you set the price too low, you’ll lose money on your investment. That’s why Coakley is here to help you answer the most important property management questions: how much can I charge for rent?
When determining how much you can charge for rent, some of the things you need to consider are:
Location – Where the property is located is going to be a key indicator when determining rent. Certain areas and parts of town are more affluent and popular than others and the price of the rent should reflect that. For instance, if your property is near a college, Metro stop or shopping center, housing is more likely to be in high demand and the rent will be higher because of it.
Comparable Properties – Check local real estate listings for properties that are comparable to yours. Look for square footage, amenities, bedrooms, bathrooms, yard (if applicable) and anything else that pertains to your home, and then see what price ranges people are renting for those properties. This can help you get a good idea of how to answer “how much can I charge for rent?”
Appraisal Value – If your home hasn’t been appraised in a long time, you should have it appraised. Knowing how much your property is worth can help you set the appropriate rent.
Current Payments – How much is your current mortgage or payments on the property? However much you decide to charge for rent should be at least equal to the total amount of monthly payments you make on the property.
Of course, when you find yourself wondering “how much can I charge for rent?” the easiest way to figure it out is to invest in a property manager. A property management company will be able to help you accurately determine the best rent price for your property to maximize profits for you. When you need a property manager in Rockville or the surrounding areas, contact Coakley Realty!
FIND THE PROPERTY YOU NEED.PROPERTY SEARCH
CONTACT US TODAY
Featured Real Estate Listings
Residential 9476 Newbridge Dr,
Potomac, MD 20854
ENTERTAINER'S DELIGHT! Stunning 2 acre lot located in sought after Falconhurst. Spectacular, private yard features newly renovated pool, pool house w/ FB, tennis courts & beautiful sun filled patio. Enjoy the spacious kitchen, formal living & dining rooms,1st floor office, fin bsmt, storage & 3 car garage. Two story family room features over sized windows & offers scenic views of the backyard.VIEW LISTING
Lot 11013 Riverwood Dr,
Rockville, MD 20854
GORGEOUS 2+ acre lot in heart of Potomac. At the end of prestigious Riverwood Drive, this lot is on a cul de sac. Public water & sewer & gas available. Enjoy all that Potomac has to offer: Potomac Village features shops, restaurants, supermarkets, Starbucks and more! Outdoor enthusiasts will love Swains Lock & Great Falls Park. Country Clubs, equestrian facilities,& sought after schools nearby.VIEW LISTING
Residential 23400 Woodfield Rd,
Gaithersburg, MD 20882
Mitchell & Best Home on gorgeous 2+ acre lot in Watkins Preserve - a subdision offering 5 additional lots! 5,700 SF (3,934 fin above grade) incl. 4 bdrms, 3.5 baths, 2 car gar, & a full W/O bsmt. 1st fl features office, formal liv& dining rms, gourmet kitchen w/ cntr island, brkfast area & lg family rm w/ FP. Enjoy the gorgeous sunset views from the spacious deck!VIEW LISTING