Anyone interested in renting a home in Royal Oak? (Hazel Park: renter, mortgage)

[beegan]

Hey! So we are trying to move out west, but as most know the market here is scary, and we have a beautiful home that we arent sure what to do with. Its 3 bedroom, brand new kitchen,partially finished basement with a beautiful deck and geourgeous landscaping. Not to mention walking distance to downtown.We were hoping to get about 1200/month not including utilities. If anyones interested please let me know, id be more than happy to send you some pics.
Thanks!

[tabbcat]

I rented my house in Hazel Park for $1400/mo... 3 bedroom, 5 years old, finished basement with a wet bar, fenced yard, nice deck. You should be able to get more than $1200/mo in Royal Oak! Don't settle!

[Coldjensens]

IF you rent too cheap you may increase the liklihood of getting bad tenants.

[MIEng]

1200 month is not cheap. We are in a buyers/renters market and the house will eventually rent for what market decides. If your rent is low it will be easier to attract renters and with that also the possibility of bad tenants. If you price it too high your house will just remain vacant.

We rent one of our houses at 1200 month. Its a 3 br 2.5 bth house with lake access (the beach right across the street) in NW Oakland County.
We have had the same renters for 4 years now and they do not want to leave because they know they are getting a good deal.

[beegan]

I agree with all of you-we'd love to raise the rent (our mortgage is 1500!) however like MIEng said-the market decides and we cant afford for it to sit vacant.We will be extremely judgemental on the renters simply because of how nice our home is, as well as the neighborhood. We have went back and forth with the price, but We'll thinking if noone even asks about it now, we will keep adjusting the price high and low-thankfully we have some time to play with. Just out of curiousity, does anyone know what a home rents for in Royal Oak?

[Meyi1976]

Hi there, beegan.....send me some info to my profile as my wife and I are headed there next week for a job assignment. Royal Oak was of major interest.......

Cheers

[Cato the Elder]

While it's technically a buyer's market, only 1/10 applicants with average to above credit who were all getting loans 5 years ago are getting loans these days. This means that people with otherwise sterling credentials have to rent. There are plenty out there. The best indicator of a good renter is their credit score, NOT how much money they have or make. A neighbor of ours is renting her house out to a couple - wife is a anesthesiologist and the husband drives a BMW 750. They regularly pay their rent late, have trashed the yard, trashed a new Bosch dishwasher, and have even withheld their rent for not getting a heat register put into the mudroom that was totally their idea. Can you say royal PITA?

Depending on amenities, location, etc., I think a RO 3br could go anywhere from $1000-1500/month. Anything above $1500 would be pushing it unless there's something unusually attractive about it. I would think $1000 would be the bare minimum just for the space and location, no matter how bland it was. Good luck.