How Do You Figure Out How Much To Charge For A Rental Property?
If you want to diversify your investment portfolio with a rental property, you must make sure that you generate enough income to cover your overhead expenses. With every rental property slightly different, and each local rental market slightly different as well, how can you figure out how much rent to charge? There are a few factors to consider. Use The Value Of Your Home An easy way to figure this out is to use the value of your home. The vast majority of rental property owners start by charging a monthly rate equal to 0.8 to 1.2 percent of the…