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Old 06-15-2015, 10:51 AM
 
1 posts, read 848 times
Reputation: 10

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Hi,
I am about to rent out my current townhouse. Can anyone tell me what is the proper rental price range for a 2bd, 1.5bath, 2 car garge, one big back yard townhouse?
Thanks,
Trident9440
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Old 06-15-2015, 11:21 AM
 
Location: Palo Alto, CA
901 posts, read 1,168,376 times
Reputation: 1169
Look on craigslist. I live in Palo Alto. Congratulations on your real estate investment, especially if you bought before 2006 (Note: I rent here.) I know that on the fringe of Old Palo Alto (the top neighborhood in the city), a 2 or 3br single family home (very small and non renovated) would bring 4 to 5k per month. I know 2 examples. I have heard that bigger and newer houses can easily command 10k per month or more.

So I'm gonna guess that if you are on the north side of oregon and east of el camino, you are looking at an equivalent price to those small houses if yours is older and not updated. If it's newer, maybe 5k or 5500? If you are in other parts of PA I'd guess your'e looking at a price 20-25% lower than that 4-5k range, lower than that if you're in one of the bottom end neighborhoods.
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Old 06-15-2015, 11:40 AM
 
Location: Pleasanton, CA
2,406 posts, read 6,040,993 times
Reputation: 4251
Quote:
Originally Posted by trident9440 View Post
Hi,
I am about to rent out my current townhouse. Can anyone tell me what is the proper rental price range for a 2bd, 1.5bath, 2 car garge, one big back yard townhouse?
Thanks,
Trident9440
I'll rent it from you for $1000/month.

Seriously, just check comps on Craigslist. Do you really want to rely on complete strangers on the internet to tell you how much to rent your place out for? Just look at similar online listings and price your place based around those. In this current rental market you're place will be rented out almost immediately. You probably won't even be able to respond to all the inquiries you get about it.
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Old 06-15-2015, 12:03 PM
 
Location: Eureka CA
9,519 posts, read 14,748,538 times
Reputation: 15068
If you are an inexperienced landlord, you should strongly consider using a property manager. Costs ten percent of your take, tax deductable, and they will keep the place rented and take all the midnight phone calls.
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Old 06-15-2015, 12:10 PM
 
Location: Redwood City, CA
15,252 posts, read 12,967,886 times
Reputation: 54051
Look up your place on Zillow and check the Rent Zestimate. I wouldn't base the rent exclusively on that but use it as one data point as you check the comps in your neighborhood.

Zillow has our (now vacant) rental in Fremont at $2,841/month, which is pretty close what I would rent it at if I wanted that kind of headache again.

eureka1 has a good point: If you have never rented out property in California before, there are lots of traps and pitfalls. Knowing what I know now, I wouldn't hire a property manager but I would hire a lawyer that specializes in rental real estate to go over my proposed lease and make sure it's legal as well as squarely covering my behind.

You should also talk to a CPA and make sure you understand the tax ramifications of converting your residence into a rental.
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Old 06-16-2015, 01:32 AM
 
424 posts, read 552,019 times
Reputation: 240
craigslist. just list high and see what you get. if it is clean and habitable, you can get a high price. if it looks like 1950 you can get about 1700-2K per bedroom min. slap on some granite. why not.
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Old 06-16-2015, 09:25 AM
 
12,823 posts, read 24,406,112 times
Reputation: 11042
2K plus / BR. Maybe 2.5K.
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Old 06-17-2015, 12:05 PM
 
15 posts, read 36,649 times
Reputation: 19
I'll rent it from you for 2.5k? I have great references and good income. Finding time to look for a place in between working is hard and we don't have the best credit due to a previous failed business, but now fully employed and stable. We are good people, clean, friendly. No pets.
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Old 06-19-2015, 11:58 PM
 
Location: SF Bay Area
13,520 posts, read 22,134,708 times
Reputation: 20235
Quote:
Originally Posted by BayAreaHillbilly View Post
2K plus / BR. Maybe 2.5K.

Much much higher. 3k or more.
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Old 06-22-2015, 02:00 PM
 
Location: Philadelphia, PA
4,507 posts, read 4,046,465 times
Reputation: 3087
Isn't palo alto at manhattan rates?
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