anon_412 on May 21, 2010
You should determine what other homes are renting for in your area.You should check with property managers to see if they can help determine a fair price for renting your home.You can check with realtors.Homes that are larger and have larger rooms can demand higher rent.You can figure out your yearly expenses,and divide that by 12. Then you can add on top of that for your rate of return.You can figure in for convenience. If your home is convenient to schools,shopping,restaurants,entertainment etc.,you probably could charge more.You should decide if you are going to include appliances and washer and dryer. Those items can be a deciding factor in determing rent.
anon_411 on May 20, 2010
The first step in determining how much to rent your house for is to do a survey of the rental market in your area. Contact local property managers and rental agents, and look at classified ads. You may also want to ask professional managers what they would rent your house for and what fees they would charge you to work as your manager. You could also call rental agencies posing as a prospective renter, and ask about houses comparable to your own to find out what they are charging for rent. Unless you are in a hurry for cash, begin advertising at a rate slightly higher than what you find for comparable houses. If the house does not rent quickly enough, lower the advertised rates, or negotiate a lower rate with interested parties who believe that your rent is too high.