Rental Comp Determining Factors

[Zac Bowden]

Hey y'all,

I'm new to this real estate game and new to posting on BP. I am wondering if anyone considers square footage or a property's age when determining rental prices. For instance, would an older or smaller home still rent at a similar rate to the market average given that they had the same amenities and appliances? If these are not things you consider when determining rent for your property, what are some factors you compare or reference?

I appreciate any input, cheers!

[Oliver Burke]

Good question Zac. From my understanding, the condition of the rental plays a factor more so than the age. As for size, the number of bedrooms and baths seem to be the most significant factor regarding rent rates but I'm curious to see what others say about square footage. For your specific market, you could call up property managers and get their opinion.

This is a quick informative read for determining rent rates:
How Much to Charge for Rent in 2020: A Landlord's Guide | BiggerPockets