Rentals in 84098>Question Details

Geoff Boston, Home Buyer in 84098

How do you calculate a reliable rental price in an area like Silver Creek?

Asked by Geoff Boston, 84098 Tue May 11, 2010

Min $ rental is easy, max $ rental is the number I want. Comps are all over the place. Useless numbers in this day and age. Yes, I know it is whatever I can get but looking for some good advice. Thanks

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Depends on size and condition of home.You can expect to pay between 2,000-4,000 per month.
0 votes Thank Flag Link Mon Mar 25, 2013
Geoff Boston:

What would be nice to know is whether your home is a Town Home or a single family home?
Where is the location in Silver Creek and How big is it.

The best place is to check out sites such as http://www.rentometer.com or craigs list.

If you have already done so, call a Property Manager. Let me know and I can refer you to one

Best Regards
Perry
408-656-5343
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Tue May 11, 2010
Geoff,
What are you renting? What condition? Decent rentals are hard to find here in Park City right now. Do you have pics you can send me? I have a client with her property listed for sale and rent and she is turning people away left and right because it is not the right situation for her needs ( want to rent too long etc). I could probably send you some of the people she has sent away. Feel free to call me. 435-731-0803. Heather
0 votes Thank Flag Link Tue May 11, 2010
Geoffboston,

While I agree with Todd to an extent, I don't agree that Silver Creek is an area where you will get the highest $s in the fall. Silver Creek is an area that appeals to people who have horses or other animals and thus it is more desirability in the spring and summer months. Silver Creek now has homes that sell anywhere from $500K to $2.5 million so the amount you can expect to receive on a rental will be determined by how large the home is, what level of finish is in the home and what type of amenities you have such as a barn, fenced yard, whether you are on the dirt road or the paved and so forth.

Lastly, there are a fair number of people looking for rentals in this market for a variety of reasons...just moved to town and aren't sure where they want to live, have had to sell their homes or lost them in a foreclosure and need a place to rent until their credit scores are better, have too many animals for alot of other areas in Park City but want to be in the Park City School District, etc., etc., etc.

Take an honest look at your property, compare it to other rental asking prices and then list it on KSL or in the Park Record and be willing to negotiate to get the "right" tenant...one who will be able to pay the rent timely and continuously.
0 votes Thank Flag Link Tue May 11, 2010
Geoff

Your best bet is going to be using the Park Record as a barometer for what is available. There are many differences in Silver Creek as far as what type of home rental and the shape of the home (remodels, yard, horses, and how deep into Silver Creek , etc). Try and put yourself in the renters' minds and say "what else can I rent for the same price?" Timing is also important; how long can you afford to carry the rental while it is empty? Rentals in the Park City area get the highest $ in the fall as we go into the ski season and have a stronger emplyer base; during the summer with the ski rentals available for longer term rentals it is hard to get strong revenue $.

Does that help?
Web Reference: http://YouInParkCity.com
0 votes Thank Flag Link Tue May 11, 2010
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