Single family hone versus duplex rent
Hi,
I was just curious whether rent rates for a duplex are lower than for single family homes if all else was equal. If the duplex had a back yard and covered garage just like a sfh, except you're sharing one wall with the other duplex, would you, as landlord, generally expect rent to be lower than for a sfh?
If so, then how much lower is typical?thanks!
Quote from @James Kim:
Hi,
I was just curious whether rent rates for a duplex are lower than for single family homes if all else was equal. If the duplex had a back yard and covered garage just like a sfh, except you're sharing one wall with the other duplex, would you, as landlord, generally expect rent to be lower than for a sfh?
If so, then how much lower is typical?thanks!
Hey James! Rental comps may help with this. In my area - I know some duplexes that have rents close to SFR - and that is because the only thing the tenants share is that one shared wall. There are no shared entrances/ basements/ driveways and the back patio/lawn appears separate too (like townhouse style).
If the tenants have to share anything of what I mentioned above, the rent will be lower to reflect that.
I always believe in pricing rent as high as you think you can get. The number of leads/applications will let you know if is too high.
I hope this helps.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
You can not comp single family rents with a duplex, rents are generally lower. Look at comps and see where other duplexes are renting out.
Quote from @Eliott Elias:Hi Eliott, thanks for the thought!
You can not comp single family rents with a duplex, rents are generally lower. Look at comps and see where other duplexes are renting out.
Quote from @Bria Johnson:
Quote from @James Kim:
Hi,
I was just curious whether rent rates for a duplex are lower than for single family homes if all else was equal. If the duplex had a back yard and covered garage just like a sfh, except you're sharing one wall with the other duplex, would you, as landlord, generally expect rent to be lower than for a sfh?
If so, then how much lower is typical?thanks!
Hey James! Rental comps may help with this. In my area - I know some duplexes that have rents close to SFR - and that is because the only thing the tenants share is that one shared wall. There are no shared entrances/ basements/ driveways and the back patio/lawn appears separate too (like townhouse style).
If the tenants have to share anything of what I mentioned above, the rent will be lower to reflect that.
I always believe in pricing rent as high as you think you can get. The number of leads/applications will let you know if is too high.
I hope this helps.
Thanks Bria!
Hi James
Look like Bria & Eliott already answer your questions. They are correct. Duplex will likely be lower than SFR as they likely have to share something. If you prepare the property well and more presentable, you may get property rent close to SFR. Is your rental area in LA? If so, I can try to help you find some comp if you like.
Tony