How much rent would you charge?
How much rent would you charge for a 900 sq foot one bedroom garden apartment? Apartment is in good shape with new kitchen and bath. Tenant would have exclusive use of backyard and a washer and dryer. It’s one block off eastern parkway in Crown Heights between Nostrand and New York avenues. Very near subways….
How much rent would you charge for a 900 sq foot one bedroom garden apartment? Apartment is in good shape with new kitchen and bath. Tenant would have exclusive use of backyard and a washer and dryer. It’s one block off eastern parkway in Crown Heights between Nostrand and New York avenues. Very near subways. I have checked craigslist but can’t find any real comparables. I am thinking between $1250 and $1500? Thanks for any informed opinions.
I would pay the broker fee myself to NOT have to have an open house. This is me, but I do not want to be doing any of this screening in my own house with strangers in and out and to not have to deal with saying no to people who I don’t want. I have the broker screen, get everything, not just a criminal check and a credit check but all work information, documented, references from landlords, before I even meet the person. Then I meet the person somewhere other than my house for a neutral meeting place to see if they would fit in the house. Also, the broker will give you the information which you are asking for here, which is what the market will bear for your apartment. You are not going to get good information in this way. But, hey, do what you want.
I would pay the broker fee myself to NOT have to have an open house. This is me, but I do not want to be doing any of this screening in my own house with strangers in and out and to not have to deal with saying no to people who I don’t want. I have the broker screen, get everything, not just a criminal check and a credit check but all work information, documented, references from landlords, before I even meet the person. Also, the broker will give you the information which you are asking for here, which is what the market will bear for your apartment. You are not going to get good information in this way. But, hey, do what you want.
I would say your rent range is good and I would shoot for the upper end of it. A small one bedroom without yard will easily fetch $1100 in that neighborhood. The fact that yours is 900 sq ft, has washer/dryer (big plus), and a yard (another big plus) puts it in the $1400-$1500 range.
When advertising this you will need to really play up these features as they are what will sell the place.
Good luck, let us know how it turns out.
Ok, anon 3;10pm. Here’s why I won’t use a broker.
1) The broker doesn’t live in the property. I do. I want to know who is living in my home.
The broker just wants to rent it as quickly as possible and move on. Brokers do not care who they rent to.
2)It takes all of 30 seconds to run a credit check. It takes a day to run a criminal check. A broker offers no protection from eviction.
3) I would rather the money a tentant wastes on a broker go to me or save them some money.
4) I am so tired of hearing about all the work brokers do .. all you have to do is hold an open house and screen your tenatns. It’s not that hard.
Sounds like a lot to me as well. This is why people go with brokers, to evaluate asking price for an apartment for which there is difficulty finding comps. I wouldn’t want my money going to a broker either, but I’m just sayin’…
I think you get every penny you “lose” on rent back with a high quality broker, who can do 99% of the legwork for you, check the people out, fincancially, legally, employment, references and give you all of this before you meet. Don’t be penny wise, pound foolish. The legal fee alone on an eviction will equal your savings, not to mention potential lost rent. I am not a broker but a landlord who would only use brokers.
OP here. Don’t want to do the broker thing… that takes away from the rent I find… I just don’t know how much the garden is worth. When I rented, we always paid a premium for a place with a yard because we have a dog… and the place is a very big one bedroom, but still only a one bedroom.
Why don’t you find the nearest real estate broker and ask them. They might rent it out for you, do the credit checks etc.
that sounds a little high for crown heights even if it is very nice.