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What kind of a premium would you expect to charge for a residential home over a regular 12 month lease in the Los Angeles area? 10%? 20%? 30% or more?
I see that apartments charge about 40% more for a 3 to 4 month lease as compared to a 12 month lease of the same apartment. But I'm guessing that this might be skewed a bit by the cost of cleaning up the apartment for the next tenant.
You can rent a furnished VRBO home in my area for about 36% more.
I would not rent to anyone who only wanted to stay for 3-4 months (and most likely the desirable summer months). It is a huge pain to have a vacancy, clean it up, and screen applicants.
If you look on Craigslist for vacation rentals, that should give you the going rate. Also check on VRBO and AirBnB.
I would go 35% higher. Hey rented is rented. And at 35% higher rate it will cover your "loss" time. I rented a property knowing the lady was only going to be there about a year.
It was still rented. This year I'm going $100 higher than last year.
In a rural college town in Michigan, I paid about 20% more than market rent for a 3 month lease as a 30 year old elementary school teacher. They were probably just glad to have a responsible adult renting from them though, lol, as opposed to all of the college students they normally got.
It was a bad winter and I had a really long commute. I only stayed there 3-4 nights a week. I moved in an air mattress, folding table, old recliner, and a TV. I wasn't the typical tenant.
I recently rented my place for a year so I know what I'm getting into. A lot of people have work done on their homes and need a temp home. I am looking to rent this Winter. If I can't rent the place then it's no big deal. I'll try again in a year. Since I'm not desperate then maybe I will try for 30 - 35%.
I recently rented my place for a year so I know what I'm getting into. A lot of people have work done on their homes and need a temp home. I am looking to rent this Winter. If I can't rent the place then it's no big deal. I'll try again in a year. Since I'm not desperate then maybe I will try for 30 - 35%.
I suggest you go back and read your other threads regarding short term rentals..you were given great suggestion and advice, clearly none of which you read.
We do short term vacation rentals, but our 'mark up' is much, much higher due to location and amenities.
I suggest you go back and read your other threads regarding short term rentals..you were given great suggestion and advice, clearly none of which you read.
Clearly you don't understand that I'm only renting for 3 - 4 months this time.
See if you can get in with an executive housing firm or something like that.
The other issue is, what position are you in in the case of a holdover tenant? Is it going to be the same as an eviction by any other LL or are you coming back from Singapore and need your place back ASAP?
The other issue is, what position are you in in the case of a holdover tenant? Is it going to be the same as an eviction by any other LL or are you coming back from Singapore and need your place back ASAP?
Unlikely as this place will rent for about 9K / month. Not many dead beats in this area. I'd be staying at an apartment.
Last edited by Marka; 08-12-2017 at 03:49 AM..
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