Is there a rule of thumb in rent prices? I have a small 3/1 home that is worth about 50k. I paid 40k for it. My payments are $379 per month. This is a peer and beam home. How do I go about determining rent prices. Duplexes a few miles from me get about $500 per month. And also, where do I get the contracts, and screening tenants?
But I have friends that are and I have been doing my reseach. on the subject. The landlord kit is the best book my frineds and club say so who am i to mess with that.
the writer of the book as this web site too. http://www.mrlandlord.com/
Don’t try to strecth the rent in your area trying to match the rent to your mortgage payment. Whatever is the existing rent there…that will be it. Lets say you try to get it even a lot more than what your mortgage is, you might winded up for a long vacancy. Thats why a due diligence before buying a property you know whats the market there.