Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Michigan > Detroit
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-21-2009, 05:38 PM
 
54 posts, read 135,466 times
Reputation: 27

Advertisements

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!
Reply With Quote Quick reply to this message

 
Old 04-22-2009, 08:55 AM
 
Location: Durham, NC
1,049 posts, read 3,789,672 times
Reputation: 732
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!
Reply With Quote Quick reply to this message
 
Old 04-22-2009, 10:21 AM
 
Location: Grosse Ile Michigan
30,708 posts, read 79,757,770 times
Reputation: 39453
IF you rent too cheap you may increase the liklihood of getting bad tenants.
Reply With Quote Quick reply to this message
 
Old 04-22-2009, 11:32 AM
 
Location: Waterford & Sterling Heights, Michigan
339 posts, read 975,461 times
Reputation: 343
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2009, 02:40 PM
 
54 posts, read 135,466 times
Reputation: 27
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?
Reply With Quote Quick reply to this message
 
Old 04-23-2009, 01:30 PM
 
3 posts, read 7,556 times
Reputation: 11
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
Reply With Quote Quick reply to this message
 
Old 04-23-2009, 02:01 PM
 
1,039 posts, read 3,451,694 times
Reputation: 609
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.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Michigan > Detroit
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 10:29 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top