Rentals in Mendota Heights>Question Details

Kelley, Home Buyer in Mendota Heights, MN

I want to rent out my 2BR / 1.5 bath / loft townhome in Mendota Heights. Sq ft - 1288 / end unit /SW exposure. What would be top $ asking price?

Asked by Kelley, Mendota Heights, MN Sun Feb 19, 2012

NEW SS appliances, NEW W/D, 2 yr old carpet & paint, new light fixtures, large garage, 2 parking driveway, very nice, bright, private location facing wooded hill. (note - I get noise from 494 - but the huge private yard is worth it to me). I see smaller inside units going for $1095 & $1195. What can I ask for rent for this property?

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Kelley:
Kirk"s advice is sound. You also need to consider how you are going to cover the association fees, other costs you pay in addition to your mortgage. You may want to look into using a realtor to help you. MLS does do rentals and I think the costs are very low for the service. Liz, 612-986-4105
0 votes Thank Flag Link Sun Feb 19, 2012
Kelley:
Kirk"s advice is sound. You also need to consider how you are going to cover the association fees, other costs you pay in addition to your mortgage. You may want to look into using a realtor to help you. MLS does do rentals and I think the costs are very low for the service. Liz, 612-986-4105
0 votes Thank Flag Link Sun Feb 19, 2012
Kelley:
Kirk"s advice is sound. You also need to consider how you are going to cover the association fees, other costs you pay in addition to your mortgage. You may want to look into using a realtor to help you. MLS does do rentals and I think the costs are very low for the service. Liz, 612-986-4105
0 votes Thank Flag Link Sun Feb 19, 2012
Kelley:
Kirk"s advice is sound. You also need to consider how you are going to cover the association fees, other costs you pay in addition to your mortgage. You may want to look into using a realtor to help you. MLS does do rentals and I think the costs are very low for the service. Liz, 612-986-4105
0 votes Thank Flag Link Sun Feb 19, 2012
We do property management as part of our business for our clients, a few of the concerns that we have with trying to max out the rent is how long is it going to take to get it rented out at the max price? If it takes more than a month then you would have been better off renting it for less. The other concern is the quality of the renter that is willing to pay more than everyone else is usually some one that has had issues trying to get cheaper places and figures that the person that has the place listed at the highest amount will just be happy to get anyone in there at that price. I would say that it would be hard to get anyone to pay more the $1200. I have posted a blog post in regards to renting vs. selling below.

Kirk Duckwall
The Duckwall Team of Realtors
Edina Realty
Cell 651-303-0019
0 votes Thank Flag Link Sun Feb 19, 2012
Check with a Realtor. Without an address, though, it's impossible to say.

Check Rentometer.com-- http://www.rentometer.com . You may be pushing the limit, according to that site.

Again, though, check with a Realtor.
0 votes Thank Flag Link Sun Feb 19, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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