Current Events > How much would you charge for rent in this scenario?

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Norman_Smiley
01/29/23 3:55:47 PM
#1:


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Your uncle dies and leaves you a 4-unit apartment under the condition you have to live in one unit and rent out the rest. It is very conveniently located for your needs. You are required to live in the apartment for 3 years to fully inherit the place.

Taxes and insurance are $250 a month per unit (1000 total)
Recommended maintenance is $200 a month per unit (800 total)
Garbage is $100 for the complex, no individual service available.
Utilities are per unit, yours average $200 a month.
Internet is $100 a month
Market rate is $3000 a month per unit

How much do you charge?

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CE_gonna_CE
01/29/23 4:01:11 PM
#2:


$3k/unit, or for the whole complex?

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Norman_Smiley
01/29/23 4:01:56 PM
#3:


$3k a unit.

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AldousIsDead
01/29/23 4:05:38 PM
#4:


I will happily subsidize my friends and coworkers for 500ish. I don't have to pay much if anything, they pay super cheap for decent digs. Everyone wins.

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NoxObscuras
01/29/23 4:12:42 PM
#5:


I'd go $2500 per unit. It's a good price compared to the rest of the market, without being weirdly cheap. Like if I was looking for an apartment, a good looking place listed for waaay below normal would set off "this must be some kind of scam" alarm bells and I'd avoid it.

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whitelytning
01/29/23 4:17:26 PM
#6:


Why would you not go market rate? Do you hate money?

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Imit8m3
01/29/23 4:23:07 PM
#7:


Charging less doesn't "ensure good tenants".
Quite the opposite.

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MoistTowelettte
01/29/23 4:42:07 PM
#8:


whitelytning posted...
Why would you not go market rate? Do you hate money?
Some people prefer to help others rather then be greedy and selfish.
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BuckVanHammer
01/29/23 4:43:06 PM
#9:


I'd probably do a solid for some fam and keep it cheap.

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FigureOfSpeech
01/29/23 4:46:35 PM
#10:


NoxObscuras posted...
I'd go $2500 per unit. It's a good price compared to the rest of the market, without being weirdly cheap. Like if I was looking for an apartment, a good looking place listed for waaay below normal would set off "this must be some kind of scam" alarm bells and I'd avoid it.

pretty much this, but I would go slightly lower for the memes/lulz and make it exactly $2420.69
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MrResetti
01/29/23 4:51:55 PM
#11:


Square footage? Appliance age? Flooring type?

C'mon man

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CE_gonna_CE
01/29/23 5:29:04 PM
#12:


Imit8m3 posted...
Charging less doesn't "ensure good tenants".
Quite the opposite.
This, tbh

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