How to properly price my rooms for rent

[Mark Anthony]

I own a newly built 4 bedroom town house I’m looking to find tenants now. My question is how do I determine how much my units are worth.

[Jake Andronico]

@Mark Anthony

Generally Facebook will be the best place to research potential comps. Also, simply posting a price and seeing what kind of feedback you get can work as well. 

Who rents rooms in your area? Why would they want to do that as opposed to getting a 1 bedroom apartment/studio? What's likely the duration of their stay? Age? Do they want it furnished or likely have furniture? 

Once you have an idea of your likely avatar of a tenant you can market your rooms accordingly in the future. You may have to work backwards initially and market your property first to find that avatar and see patterns. 

I've rented by the room to students on two homes in Reno, NV and it's completely changed my life. 

Great strategy. 

Best of luck to you!!