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General Property Management
Rent Amounts in New Rental
J
James P
started a topic
over 15 years ago
My neighbor has purchased a duplex (two unit) rental, and is trying to determine rent amounts. Any simple formula for this? He has to cover his mortgage, taxes, and insurance. Other ideas or input??
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K
Kathleen M
said
over 15 years ago
This is a good question, especially if you are just getting started as a landlord. It is true that a good initial amount is defintely "What will it take to cover my expenses?" If that is not able to be done, you might want to consider if it is a good property for you to buy.
D
Denise S
said
over 15 years ago
Have you resolved this question? I would make sure that in additon to covering your known costs, you plan for the unexpected costs that will alawya come along! Maybe go 10% higher on your rent, if you feel you can, to cover added expenses.
c
cheryl w
said
over 14 years ago
Yes a profit lol.
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