How Do you Declare Rent amount?

[Joe K]

Hey everyone,
just wondering how you would find out what to charge for rent, which is obviously what you subtract from expenses to find your cashflow.

Is it derived from similar properties in the area?

thanks

[Will Barnard]

Just as you find market value for the value of your home if you wanted to sell (MLS comparisons) you do the same for rentals. Look on the MLS for comparables in your area and make sure to visit them to be sure you have at least what they have.