Rental Basics in Arcola>Question Details

Christine L., Home Buyer in Arcola, IL

What would be a good rental price for a 5 BR, 2 Bath ranch home in Arcola? Entertaining idea of renting home, so can possibly build in rural location

Asked by Christine L., Arcola, IL Tue Aug 3, 2010

Home with full, dry, finished, basement, 2 new BR down, Fam. Rm. down, Lg. Laundry Room down, Lg. 6th BR or room for 2 Offices down (needs remodeled), 3 BR up, 2 Full Baths up, Eat-In Kithchen, DR & LR up, Entry hall up, Central Air throughout, Hot Water Heat throughout, lots of off-street parking, Lg. mature yard w/grass & mature trees, rear sidewalk, Lg. rear driveway, front sidewalk, new roof (1 yr. old), side patio, new windows, linoleum & carpet upstairs, carpet on basement stairs, new birch paneling & handrails to basement, new drywall ceiling, new basement flooring commercial tile, new electric fireplace, new egress escape window/ladder, master bath upstairs; new fiberglass shower w/new greenboard behind, new shower door, new floor under, new linoleum, new over toilet cabinet, new sink & basin cabinet, new toilet, new lighting, possible use of Large Morton building on lot, as a 2 car garage plus one side, workshop space on the other side with outside sliding door access.

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I noticed no one has answered this question yet. I may not be able to give you a rental price, but I can help you find one. Realtors often do what is called a comparative market analysis on properties to decide what to list the price for. Renting is not much different. Take a look around the area and see what other similar properties are renting for. It helps to look as close to the house you are thinking of renting. Make sure to attempt to compare apples to apples!!

I know several landlords in my area that use this same method when setting rent price.

Best of Luck!!
0 votes Thank Flag Link Mon Aug 9, 2010
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