Firstly, do you want to charge your sister rent which the others pitch in on, or are you wanting to charge them each separately?
If the unit is in good repair, $1200-$1300 not inclusive of utilities is a very fair price. But for older homes, or those which are a little rough around the edges, that can get drastically cheaper.
A lot of those properties seem to be a bit outside of Nashville proper; you may be able to find town homes in a similar price bracket closer to Nashville, which would likely command a slightly higher rent and have a better resale value- especially in neighborhoods like Hillsboro Village, Green Hills, and West End.
Here are some examples:
In the West End neighborhood, on Vanderbilt's West side:
In the up-and-coming Sylvan Park neighborhood, just south of West End and still just a short drive to downtown:
Hey there Ian... each property brings it's own value but to share, I have placed several renters in the area lately and depending on the number of bedrooms and condition of the home, it's location as in walkability the price could fit somewhere between $1,150.00 and $1,400.00.
May I ask you if you are renting it so you can relocate out of state or are you moving up to a newer larger property.... I ask simply because depending on your answer it can affect your loan rates on the second home. I would love an opportunity to chat more about this with you or to introduce you to some strong financial lenders with great free advise . There may be other issues you have not considered either. Call anytime if you would like to pick my brains.... love to assist you in your decision. You can check my website to see more of my background www.allisonkennedy.net
Best wishes regardless.... it is a great time to be dabbling in Real Estate !!!!... more
If they did not renew your lease because you were not making your payment on time, then that would likely be an eviction. A landlord is not going to look favorably on someone with a previous eviction.... more