How do I calculate rent for a 3 bedroom house?
I need to calculate the rent for each bedroom but they’re all different sizes. I can’t get the square footage because the old tenant is still moving out and I need to place an ad right away. All I know is that the largest room is 1.5 times the smallest one and the third bedroom is a size somewhere between the smallest one and the biggest one.
I don’t need to separate between shared space and bedroom. Just want to figure out the rent by the size of the bedrooms. Can anyone help me?
Passive Income
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January 23rd, 2010 at 3:38 pm
Well, what did you charge the old tenant? charge the same plus a $15 increase.
Are you renting the entire house (as in the land around it too, do they have to do the upkeep) or just bedrooms in the house?
Here’s the best thing to do: If you’re renting a house, go to a real estate agent and have them take over the entire deal. They will charge you a little bit of money monthly for servicing your contract but they will handle it all for you. They will go out and look at the property and determine the amount to charge for the bedrooms, they will take care of calling and getting the plumber there when needed, they will run credit checks and criminal checks on the people who want to rent the place, etc. etc. Then you don’t have to do all the worrying. And each time something comes up they will contact you for your input.
January 26th, 2010 at 3:50 pm
Set a min. price on the smallest room and then add $25 for a bigger one.
January 28th, 2010 at 4:36 pm
your room mates do not need to know how much you are renting the house for. find out what an average room for rent in a house is and then base your price by the average price. you can take the biggest room and rent out the other 2 rooms and split the rent 3 ways. They are going to pay you the rent, and always remember, they have the right to agree or disagree to rent you want to charge, it doesnt have to be fair and they dont need to know what everyone else is paying for rent.
January 31st, 2010 at 2:01 am
Basically if one has it’s own separate bath it would be a bit more than the others. if there all just rooms , charge about the same but maybe a little more a bigger room.Remember , everything is negotiable. you can ask what you want and they can either pay it or not. I personally would rent based on compatibility if you where going to be living in the same house with these roommates. And take the whole rent and divide it by the number of bedrooms.You getting the biggest because your name is on the lease and not theirs. Simple.
January 31st, 2010 at 12:36 pm
rent of a room, condo, house or whatever is determined by how much someone is willing to pay for it. There is no formula for this. If you think you can get $200 for the room, then charge $200. If you think you can get $1000 for the room, then charge a $1000.
Regards