Request for Assistance - Determining Average Rent Prices
Hey everyone! I've been following bigger pockets since September '17, and I'm closing on my first 4-plex house-hack on Friday. Looking at the rent rolls, I believe that the rents are somewhat under-priced for my area; I'm trying to determine the average rent price, and what I should increase the prices to if at all. Any assistance would be greatly appreciated.
Property Characteristic:
- Unit Types - 2 bed, 1 bath
- Zip Code - 53210
- Street Location - Lisbon & Hartung Ave
- Appliances - Refrigerator, Oven/Stove/Cooktop
- Tenant Utilities - Electricity, Heat, Gas, Air Conditioning
- Landlord Utilities - Sewer, Hot Water, Trash
Current Rents:
- $525 - MTM
- $525 - MTM
- $675 - MTM
- $675 - 1 Year
Please note, I also intend to have tenants pay apportioned share of water/sewer/municipal cost. I understand the common practice of landlord paying, but I don't care for such liabilities. Given the information above, how would you price these rentals?