Much much to charge for a private bathroom?

Question

I'm looking into renting out a bedroom with a private bathroom.

I've done a price comparison and judging by the location, condition and size of the bedroom the ongoing rental rate should be about $840 (rental prices for bedrooms are absurd in my area).

However, that price is not taking into account the private bathroom. Every listing I find on bedrooms, and thereby its prices, is based on a shared bathroom and kitchen with other tenants.

How much more can I reasonably expect to charge in rent, providing the tenant access to a small private bathroom? At the same time there would not be access to a proper kitchen.

The bedroom is big enough to support a small functional kitchen area, which will be added (fridge, small stove, microwave) and effectively turning the bedroom into a very small studio apartment.

How much more can I reasonably charge based on this added feature? I've done some searches online and can't seem to find an obvious answer. The room is in an area where not having access to a proper kitchen is not a problem.

Thank you very much in advance! Let me know if more details are needed.

Jónas Tryggvi Stefánsson · Answer

Thanks a lot Nik!

Nik Corbaxhi · Answer

A bathroom is a bathroom. While it has the benefit that it is not shared with other people, you have to look at all aspects. If there is no kitchen, then it could be a wash. It depends who your tenant is. If the tenant is someone that likes to cook a lot, then they probably don't care much about you private bathroom and vice versa. If you rent to someone that will literally just use the place as a hotel to just sleep, then they probably don't care about the kitchen and would be more attracted to the personal bathroom.

I would advertise it for a bit higher (say $900) and then work your way down, depending on how many responses you get. Make sure you put on CAPITAL LETTERS the added bonus of a private bathroom. I see it all the time where people will advertise an apartment for rent with heat and hot water included in price, but not mentioned in the description of the listing. It is listed in the hidden portion of the page where you have to click on more info.