How much can I get

Question

Hello. So we own and inline hi ranch . We have a bangledesh family who lives there's. They have a total of 7 people living there . The were originally suppose to have to but had 2 more family members come over feomt thier country . We are charging $2,500 . They pay utilities and we pay water. They house is in very good condition. I drew a quickly lay out . Sorry for not measurements on 2nd level. Kitchen is not size and walls were blown out so it's open . Bedrooms are about 10'x12' if I had to guess . Appliances were new and everything was in very nice condition when they moved in 2 years ago. Do you think we're charging too little ?? Thanks

Alecia Loveless · Answer

@Beau Alesi Hi Beau, to know how much you should be charging for rent you need to look at other comparable properties in your immediate vicinity and see what they are charging.

You can look for other similar properties on Facebook marketplace, Zillow, possibly the MLS or other similar sites that have rental properties to see the prices people are renting things for. Then you will know what you should be charging for rent. These sites should have pictures so you can base your price according to how nice your unit is compared to the price of the other units based on their pictures.

For instance if the other unit has 4 bedrooms and is $2000 and is more upscale than your unit and your unit has ; units and isn’t quite as nice maybe you only charge $1900.

It is often very difficult or possibly even illegal to charge for extra people in a unit because depending upon how many bedrooms you have most states allow you to rent to 2 people per bedroom plus 1 more, or something similar.

I hope this helps a little. Maybe some other people will post with their thoughts as well.

Beau Alesi · Answer

Meant to read "they were originally suppose to have 5"