Multi Family Rent Rates
Hello BPers!
I have a question about rents for multi families. A lot of the guides I've read on BP mentioned speaking to other investors in your area about what they charge for rents, using online resources like Zillow, Truilia, Craigslist, etc.
My question is how to determine a competitive rent to charge for a unit in a multi family home? For instance I plan on moving to Washington state soon, and I've been using Tacoma as an example. I've seen online that SFR 3Bed 1 baths 1000-1200 Sqft, that are in good condition rent for between $1200-$1400 per month.
So if I have a unit in similar condition, similar size and same number of beds and bath, can I charge that rate? Or would I need to charge a slightly lower rate since its a MFR?
I guess this might be a silly question, but I just couldn't find the answer online anywhere, so I thought i'd ask people with experience. I don't think this is really limited to Tacoma I am just using that as an example as I have been researching that area.
Thanks everyone!