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Old 06-18-2015, 01:38 PM
 
Location: Denver, CO
2,387 posts, read 2,211,217 times
Reputation: 1941

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Asked something similar in the general Renting forum, but want specific input from those that are familiar with the Denver rental market.

For 1-BR in a 2-BR/2BA 1070 sq. ft. condo in SE Denver. No pet rent or pet deposit. Utilities to be paid would be 50% of gas/electric bill. Water, trash, sewer, and internet will be covered by me.

Amenities include pool, hot tub, and fitness center. Condo unit has updated wood floors, newer appliances, and is in walking distance of a large amount of retail.

Just considering if this is something I'd be interested in doing.
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Old 06-18-2015, 01:41 PM
 
Location: 0.83 Atmospheres
11,477 posts, read 11,557,632 times
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Just to be clear, this is a roommate situation where they would be sharing the common areas with you?
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Old 06-18-2015, 01:42 PM
 
Location: Denver, CO
897 posts, read 1,252,988 times
Reputation: 1366
Quote:
Originally Posted by Lafleur View Post
Asked something similar in the general Renting forum, but want specific input from those that are familiar with the Denver rental market.

For 1-BR in a 2-BR/2BA 1070 sq. ft. condo in SE Denver. No pet rent or pet deposit. Utilities to be paid would be 50% of gas/electric bill. Water, trash, sewer, and internet will be covered by me.

Amenities include pool, hot tub, and fitness center. Condo unit has updated wood floors, newer appliances, and is in walking distance of a large amount of retail.

Just considering if this is something I'd be interested in doing.
Not sure about what I would charge, but I can tell you that IME the best thing to do is to find a good friend that is looking for housing (many of them are getting squeezed out of rentals) and offer them a killer deal (for example 1 br with private bathroom & shower, and full use of the house for $650 all utilities included in Park Hill) to live with you. Allows you to live with someone you are comfortable with and they know they are getting a good deal and will not ruin it. Have some friends that have done that or are doing that and both sides are happy - one is getting help with mortgage payments, the other is getting cheap housing in a tough market.

Sorry if I totally did not help out here but the point I am trying to convey is that personally I'd rather charge a friend below market rate than a stranger market rate - sharing common space is easier if you have a mutual understanding and common language already.
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Old 06-18-2015, 01:43 PM
 
Location: Denver, CO
2,387 posts, read 2,211,217 times
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Quote:
Originally Posted by SkyDog77 View Post
Just to be clear, this is a roommate situation where they would be sharing the common areas with you?
Correct.
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Old 06-18-2015, 01:45 PM
 
Location: Denver, CO
2,387 posts, read 2,211,217 times
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Quote:
Originally Posted by ayoitzrimz View Post
Not sure about what I would charge, but I can tell you that IME the best thing to do is to find a good friend that is looking for housing (many of them are getting squeezed out of rentals) and offer them a killer deal (for example 1 br with private bathroom & shower, and full use of the house for $650 all utilities included in Park Hill) to live with you. Allows you to live with someone you are comfortable with and they know they are getting a good deal and will not ruin it. Have some friends that have done that or are doing that and both sides are happy - one is getting help with mortgage payments, the other is getting cheap housing in a tough market.

Sorry if I totally did not help out here
Good point. Actually, I do have a friend that is interested in moving in who was previously evicted. I'm trying to help him get back on his feet, because a lot of apartment management companies won't give him the opportunity.

What do you think on price?
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Old 06-18-2015, 01:46 PM
 
Location: Denver, CO
897 posts, read 1,252,988 times
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Oh I did just get a thought - scour craigslist for roomate situations or room rentals in your neighborhood, then call and ask for pricing - then you can gauge what similar situations are going for in your area.
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Old 06-18-2015, 01:47 PM
 
Location: Denver, CO
897 posts, read 1,252,988 times
Reputation: 1366
Quote:
Originally Posted by Lafleur View Post
Good point. Actually, I do have a friend that is interested in moving in who was previously evicted. I'm trying to help him get back on his feet, because a lot of apartment management companies won't give him the opportunity.

What do you think on price?
I might consider $650 to be fair for a bedroom with everything else shared (including utilities) but definitely don't take my word on it because I don't really have a handle on current RE prices.
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Old 06-18-2015, 01:52 PM
 
Location: Denver, CO
2,387 posts, read 2,211,217 times
Reputation: 1941
Quote:
Originally Posted by ayoitzrimz View Post
Oh I did just get a thought - scour craigslist for roomate situations or room rentals in your neighborhood, then call and ask for pricing - then you can gauge what similar situations are going for in your area.
I've been checking on Padmapper and the 1-BR room rentals are very, very high. Like over $1400/mo high. I'll check on CL though. Maybe it's more accurate.
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Old 06-18-2015, 01:53 PM
 
Location: Denver CO
24,202 posts, read 19,206,363 times
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Quote:
Originally Posted by Lafleur View Post
I've been checking on Padmapper and the 1-BR room rentals are very, very high. Like over $1400/mo high. I'll check on CL though. Maybe it's more accurate.
As I keep saying on the other thread, you are NOT renting out a 1 bedroom apartment. Those are not your comparables.
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Old 06-18-2015, 01:55 PM
 
Location: Denver, CO
2,387 posts, read 2,211,217 times
Reputation: 1941
Quote:
Originally Posted by emm74 View Post
As I keep saying on the other thread, you are NOT renting out a 1 bedroom apartment. Those are not your comparables.
And like I keep telling you, that's why I'm not trying to charge what 1-BR apartments are going for (over $1,000/mo + utilities and pet rent).
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