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East of Broken Bow | When my MIL's house was up for rent, I talked to a guy who deals in real estate and asked him if I could get some 'free' advice.
Long story short, starting point for rent on an unfurnished house was 1% of value plus utilities, maybe a little less to the right renters. Then he laughed and said that is about the extent of his free advice, and if you wanted help vetting renters, hire him (well, his company) and they would take care of everything for a small fee.
Wound up hiring him and after he had written the lease we realized he included a lot of things to protect my MIL than we would have thought of ourselves. Well worth it unless you are sure you can get a good renter.
On a sidebar, a friend of mine has a rental house, and he said he'd rather have a good renter at half the going rate than a bad one at double based on his personal experiences. | |
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How do you figure rent on a rental house?
