This is just to gauge if it would pay to rent out my house. It's a 50-yr old single family cape in zip 19609 with 1100 sq feet, 3 bedrooms, one bathroom. It will be cosmetically updated with fresh paint, newer windows and updated kitchen. It's on a quarter acre plot with a pretty big back yard. It has an oversized one car garage and full basement. It is a very efficient home for its age, with my monthly water/gas/electric usually around 100$ in summer and around 150-200 in the coldest winter months. It is close to shopping and 422/222/724 highways. Its like 5 minutes from Reading, 30 min from lancaster, an hour from harrisburg, and 1.5 hours from philly.
I would need 1300/month to break even + one month for security deposit.
Does it sound reasonable? If you're reading this and you rent a single home, what are you paying and what are you getting?
his house is real nice, I've been there
LE61T PTE6262 Powered 
what are other houses similar to your renting for in the area?
Qwibby {T3H Old QBE} wrote:his house is real nice, I've been there
Thanks for the props
John Benham wrote:what are other houses similar to your renting for in the area?
I've seen prices for 2 BR town homes at 1500/mo. 3BR apartments can go from 700-1500/mo in the area. Single family houses are kind of a rare find, especially with a garage. That said, i've seen larger homes renting for 1500-2000/month, but those are obvioiusly people who can no longer afford their mortgage and are trying not to go under.
i would ask more than $1300....cause if you break even, and something breaks on the house.....what are you going to fix it with??
i would recomend going with $1400-$1500, that will give you a buffer should you need to repair something on the house, and still be in line with other houses for rent in the area.
Qwibby {T3H Old QBE} wrote:his house is real nice, I've been there
This statement greatly lowered the homes value.
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In Loving Memory of Phil Martin December 14 2005
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