Determining how much to rent your house for can depend on various factors such as the location, condition, and upgrades of the property. Here are some resources that can help you estimate the fair market rental value of your home:
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Redfin Rental Estimate: This is an estimate of the fair market rental value of an individual home based on up-to-date rental data. The Rental Estimate is for informational purposes only and is not a substitute for the in-person expertise of a property manager or landlord.
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Zillow Rent Estimate Calculator: This tool provides a rent estimate and helps you determine how much rent to charge. It uses the 1% rule, which suggests charging 1% of the homes value for rent. However, there are many factors to consider when setting a rental price, such as local rent control laws, the cost of similar rentals in the area, and changes in the local market.
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Mashvisor: This resource provides information on traditional and Airbnb rentals. It offers a rental property calculator that can help you estimate the rental income, cash flow, and cap rate of your property.
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Millennial Money Man: This website provides strategies to price your rental, including determining your financial needs, researching the local rental market, and setting a competitive rental rate. It also offers a guide on how to rent out your house, including tips on preparing your property for listing photos and finding reliable repairmen.
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Texas REALTORS: This resource provides tips on how to be a successful landlord, including knowing your market, polishing your people skills, and protecting yourself and your investment. It also suggests working with a property manager who can handle related duties such as handling leases, managing funds, and screening applicants.
Its important to note that these resources provide estimates and suggestions, and the final rental price may depend on various factors specific to your property and location.