How are different-fourplex rents considered

[Julian Broyles]

So I haven’t done enough research into this but I’m sure it’s common sense. I figured I’d ask anyways, well I was wondering when charging rent for your tenants how are du and four plex rents considered? Like an apartment’s rate or house? I’ve seen those two are kind of different.

[Alecia Loveless]

@Julian Broyles They’re based on what the market will sustain. So you’d need to figure out what other similar properties are renting for.

I’ve got some that I inherited that should be raised but weren’t because one man is elderly and already had his rent raised by $150 but it’s still at least $50 under market value. Two others in that building are also under market value but the seller raised them to sell so I can’t just raise them again so quickly.

I’ve got another that I inherited in a different building I plan on raising because the demand for units is so high in that town.

So it’s all about market demand. I could rent any of those units for more money.

You can go to open houses to find out local rents, call advertisements, call property managers, check Craig’s list, flyers at the store, etc.