PDA

View Full Version : Renting my house- How much should I ask?



dieselpower91
07-04-2006, 06:27 PM
I just bought a house in Coventry Hills. I will be renting it out starting early-mid August. I am wondering how much I could get per month for the house.

2 Storey, 1356sq/ft, 3bdrm, 2.5bth. Gas Fireplace in the finished basement. No garage, 3 car wide parking pad in the rear and plenty of room in the front. House faces East and overlooks a creek and greenspace towards Deerfoot trail.

I am looking to rent it for 6months-1yr then move into it myself.
Any input is appreciated! :thumbsup:

Slashin_
07-04-2006, 06:30 PM
....in the market now u can get away with 1200 if u wanted too.....but 900+ for sure

dieselpower91
07-04-2006, 06:37 PM
I know i can get more than $1200 for sure.

MrSector9
07-04-2006, 06:58 PM
fromw hat i havce been looking at $1200 depending would be a steal of a deal.

Iw oudl say anythwere from $1200-1400 shoudl be easy to rent.

The only thing that would deter me from this woudl be the lack of garage :)

Aleks
07-04-2006, 07:46 PM
1500+

Slashin_
07-04-2006, 07:54 PM
basement developed?

dieselpower91
07-04-2006, 10:15 PM
Yes. The basement is finished as I said.
It is basically just a big living room with a gas fireplace, 4 piece bathroom and a storage room.

paramedic
07-04-2006, 10:19 PM
2000

SikAssR1
07-04-2006, 10:24 PM
compare with other rental properties in your area

khtm
07-04-2006, 10:25 PM
$800

Slashin_
07-05-2006, 06:53 PM
well coworker is rentin a bingalow in forest lawn..only top floor for 800 a month.......1500.....have fun finding anyone who can afford that

Dj_Stylz
07-05-2006, 06:55 PM
You can get atleast $1500 for the whole house.

Alex_FORD
07-05-2006, 09:07 PM
Originally posted by dieselpower91
I just bought a house in Coventry Hills. I will be renting it out starting early-mid August. I am wondering how much I could get per month for the house.

2 Storey, 1356sq/ft, 3bdrm, 2.5bth. Gas Fireplace in the finished basement. No garage, 3 car wide parking pad in the rear and plenty of room in the front. House faces East and overlooks a creek and greenspace towards Deerfoot trail.

I am looking to rent it for 6months-1yr then move into it myself.
Any input is appreciated! :thumbsup:

how about $200-400 per month more than the mortgage payment is or would be? I'm no expert, just a guess.

SikAssR1
07-05-2006, 09:29 PM
Originally posted by Slashin_
well coworker is rentin a bingalow in forest lawn..only top floor for 800 a month.......1500.....have fun finding anyone who can afford that

hahaha, you would be surprised buddy

MrSector9
07-05-2006, 09:44 PM
i plan on $1500 a month rent range, hopefuflly less but around there would be okie for me.

not to bad split between a couple of responsible people.

2 people even turns it into $750 each for half a house each.

dieselpower91
07-05-2006, 11:34 PM
I wouldn't be including any utilities in the price either.

MrSector9
07-06-2006, 12:13 PM
depending on the interior since i haven't seen any photos or anything. same as the yard part of it.

I would figure for $1400 (and they pay utilities like you stated) is pretty fare and reasonable and shouldn't have a hard time at all finding a suitable responsible tenant.

There is a lot of square footage thoguh so you honestly shoud be able to get $1500 per month plus utilities.

maybe for 6 month lease $1500 1 year lease $1400 ?

everyone loves to get a deal :)

dieselpower91
07-08-2006, 09:55 AM
Thanks for all the input guys. I think I will be listing it for around $1500. It seems about right. There is a 4 level split that is smaller listed for $1450 in the same area so i think $1500-1550 is fair.

I am also planning to repaint alot of the rooms. The previous owner liked yellow alot I guess. :barf:

richardchan2002
07-08-2006, 11:24 AM
Thing is, a 4 level split only counts the upper two floors in the square footage. The lower 2 levels aren't counted. So the size of the house is deceptive if you count it by square footage.

I'd say you'd be lucky to get $1500. People can get a mortgage for that much.

Aleks
07-08-2006, 11:27 AM
Originally posted by richardchan2002
Thing is, a 4 level split only counts the upper two floors in the square footage. The lower 2 levels aren't counted. So the size of the house is deceptive if you count it by square footage.

I'd say you'd be lucky to get $1500. People can get a mortgage for that much.

the problem is some people can't qualify for a mortage or don't want a mortgage right now. I know someone renting a townhouse with a single attached garage in evergreen for that much. I believe 1500 is realistic as long as the market doesn't turn around really quickly here.

dieselpower91
07-09-2006, 01:22 AM
I know you can get a mortgage for that. The problem is that most people can't afford the down payment. Now with CMHC you can put a very small downpayment but you will pay out of the ass in the end with such a high mortgage insurance rate added on the mortgage.

I do know that the 4 level split, they only include above ground floors in the square footage. Same with my 2 storey house. The developed basement isn't counted in the footage.