Question about rent price: Realtors or anybody else who wants to chime in (Brandon: renters)

[SLCPUNK]

We would like to rent our house and move back out west. 4/2/2 concrete block with screened pool, totally remodeled, private backyard, lots of queen palms, white birds, and a variety of other tropical plants. A little under 2000 sq. ft. built in '81. Out of flood zone with hurricane shutters all the way around. Brandon High school district.

What is a ballpark range we could ask to rent this house?

Thanks.

[bentlebee]

Depends of the location and community..Otherwise I would just guess and say between $ 1100.- and $ 1500.-. You could ask more if you offer pool cleaning and yard work incl. to avoid a tenant who doesn't maintain the pool very well. You have to be very strict in your contract about the HOA rules and that the tenant is responsible for any fines.

Homes with pools are less attractive for renters due to more utility costs...but if you home is in a very nice neighborhood, with many amenities it might be a little higher...it all comes down to demand

I have one that is almost 2100 sqft in a very good location with many amenities, conservation lot, no pool...$ 1450.- (I went up every year since 2005) and no home is for rent over there for a long time...

[Mar1lyn27]

As a very recent would-be-renter I'll share my experience here. IMHO your best bet would be to get 2, maybe 3 seasoned realtors who do many rentals to appraise your property. They will know what price or range of prices at which to list your home.
or example - if they believe you can get $1000 they will not advise you to ask $1400 even if they know you would accept the lower price; the would-be-renter wouldn't know that and most likely wouldn't even look. I know I only looked at rentals up to $200 higher than what I finally leased for $1150, figuring the owner might be somewhat negotiable. The realtors know the area and current prices best.

I did find a rental. I had a great realtor who understood what I was looking for, what my top dollar was, and what and where I could rent for my budget. I ended up renting a beautiful place for less than my top dollar would allow, in a beautiful safe neighborhood.

Good luck

[SLCPUNK]

Thanks for the replies so far.

[kamorra2]

I think bentlebee is right on. If your house was built in 81 and in Brandon you're going to have a ton of competition. There are newer houses in Brandon renting for $1000-1200 so you have to compete with that.

[cjtex23]

Agree with the previous responses. You might consider looking into a rental management company (many realtors do this as well) so you don't have to deal with the headaches of being a landlord. If you get a great tenant, that's excellent, but if you don't, your life could be hell. My father has a rental property and a woman that rented it nearly drove him to an early grave. She thankfully left and he rented it to someone he knew through someone else and hasn't had a worry for over 10 years. The guy takes care of everything and just asks that my father allow him to cut the grass, maintain the property, etc for a reduced cost of rent. A great example of a movie where renting goes bad is Pacific Heights. Watch that if you haven't and you may want to go with a management company.

[cjtex23]

And it does sound beautiful, by the way....but I won't be looking until December. :-) Good luck.

[bentlebee]

Homeowners can hold on to more of that rental income by marketing the property themselves. An effective do-it-yourself Internet campaign can cost less than $500, compared with the 10% to 25% of total rental income that real-estate agents and management companies may charge to find tenants.

How to Make Money Off of a Vacation Home - WSJ.com

How to squeeze more money out of vacation homes


This is copied from a interesting article about people who have a second home...maybe that can be helpful.