How to price rents when comps are scare?
Hi everyone,
I am putting my home up for rent shortly. It's a 3/1 valued around $270K, water and mountain view, well maintained (currently used as an air bnb)
Using the .08% rule of thumb, this should rent for $2,160/month
The issue? My neighborhood is best in town, so many of the houses are owned rather than rented. All my rental comps are from less desirable areas across town, in the $1,600 range.
How much of a mark up do you think the prime location and view are worth? $100 more a month? $200? Am I justified in listing at $2,160/month?