How do you figure out what price to list your place for rent in the area? My realtor gave me a price, and I think it’s way too low ($3,250). I think it should be closer to $3,750. 1 bed + den FWIW.

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Long time landlord here. Renting a place is inverse of you get what you pay for. You can always get someone to pay more for your place….but a) you may end up with an empty month while you wait for that….and losing 3200 in one month empty…waiting for 3700 ….takes 6.5 months to make up and break even. B) the higher the rent the more the tenant expects in terms of “hey the lightbulb is out and gee the toilet was running yesterday afternoon can you send handyman TODAY”. That gets expensive and exhausting. C) when rent is high people tend to move more often….when it’s low (but not tooo low) people tend to stay and are incentivized to figure out things like “gee this window is open so it’s cold what should I do” by themselves.

Now. If you go too low you end up with “low rent” tenants….and that’s not where you want to be

I believe you want to be below market…but not too far…to optimize total return…

likesmartfunny

Ignore PM1, I see most of tenants value the offering below market rent but less pampered services. Like you said, they are more likely stay and actually take better care of the place to be able to keep the rent expense controllable.

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Which lease cycle? Which part of South End? That’ll influence it greatly; there’s a big difference between somewhere north of Tremont vs closer to Harrison. With that said... $3750 is quite high for your general location / cycle at this stage, even with the extra space.

If you think your realtor’s rate is too low, you can try going for your ideal rent. Just be prepared to eat the cost if you don’t get (good) tenants quickly.

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What neighborhood are you in

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+1 for wondering which neighborhood, asking for a friend

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South End

3200-3500 seem to be market

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