Rent Based More on Square Footage or Bedrooms

[Matt Dickens]

Hello All,

I am a new investor in Arizona looking specifically at Chandler currently. I have been doing a lot of rental analyzation, and I seem to see a large fluctuation in rents for the same type of property i.e. 3 Bed 2 Bath. However, when I was speaking with a realtor recently, he told me that rents weren't that dependent on square footage, and most of the same type of property goes for the same rent, regardless of square footage. When calculating potential rent, should I factor number of bedrooms and bathrooms more than square footage?

Thanks!

[Patricia Steiner]

Rents are market driven first and then based on "like properties."  The square footage isn't as important as (no surprise here) the location, tenant quality, bed/bath/floorplan/finishes, and amenities.  Take a look at what's for rent in your specific market and then compare how your property sizes up to the ones listed. You'll be surprised by the response when you get it right.  Glad you posted such an important issue for investors.