Profile picture for mtiernan

how should i set a rent for an apartment

  • January 19 2011 - US
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Answers (6)

Profile picture for maconhouses
Local classified ads, local leasing companies, loopnet.com (commercial), for rent (your zip code) search.  If you do not know the area, you will need to drive by the comparable properties to make sure they are "comparable"- would someone wanting to rent your home also consider this home (which you have an advertised rental rate).

Good Luck
  • August 08 2013
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Profile picture for user4733939
There are detailed resources online to help you determine what competitive rent is in your market - while Zilpy is now defunct, Rent-o-meter still exists, and RentMetrics offers similar functionality but with more detailed data and pictures.
  • July 28 2013
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Profile picture for sunnyview
You can try looking at rents for comparable units on craigslist, rent-o-meter or zilpy. You can also call local agents or property managers since they can also help you set a fair rental value based on their experience. You want a rent low enough so that you get enough applications to choose from, but not too low to encourage applicants with issues.
  • January 20 2011
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Look around your area and see what the rents are for similar porperties in similar locations. That should give you some idea as to what the market will bare.
  • January 20 2011
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Mtiernan,


If you are in a well populated area, I like to scan craigslist to gauge what it seems rentals are going for in your area. You can also call a local Realtor to give you a good range of prices. The best way you can learn the price however, is to post it for rent. If you get very few calls, it's likely over-priced. If the phone doesn't stop ringing, you've probably priced it too low. Always scan your tenants!! It is better to leave the apartment vacant than to have a terrible tenant! 
  • January 19 2011
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Typically, the value of anything is set by the supply and demand of the market.  Compare your rental to others available in the immediate area, then make adjustments for condition, size, #BRs and #Bths, etc. Just a hint:  it is ususally better to offer your property at slightly less than market to attract a good, stable tenant, which is more important in the long run.
  • January 19 2011
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