It doesn't matter. That's irrelevant.
You lease the house based on what the comps in your neighborhood rent for. If you price it higher than that (to cover more of the expenses, or to get a larger return on investment), it won't rent. It's that simple. And, obviously, you don't want to underprice it.
So: Do research. Look both on sites like Trulia (or Realtor.com) and on sites like Craigslist to determine what similar houses in your area are renting for. Also, I kind of like http://www.rentometer.com That's what you can rent it for.
From that figure, you can then determine whether the monthly income will cover expenses. And if it does, what the (positive) ROI is.
But there's no average. You may have bought your home in 2000 for $100,000. Your neighbor may have bought the identical home next door for $200,000 in 2006. You and he are able to rent your homes out for the same amount. He can't get any more because he paid more.
Real investors--who go out and run the numbers before buying--do have desired minimum rates of return. It might be 5% or 10% or whatever. But that's not your situation. You've got the house. Your investment is already determined. And the amount you can get for rent, whatever that is, is pretty much set. So: Definitely work the numbers and figure out whether you'd be losing money, breaking even, or making money. (Don't forget to factor in things like vacancy--allow 8.5% of income--and maintenance--generally around 1% of the value of the house annually, though that'll vary.) But the numbers are the numbers and it's too late to work toward an "average" rate of return.
Hope that helps.... more
The best resource for crime and safety is usually the local police department or the county sheriff's department. They have access to the mose accurate and current information and are generally very willing to be helpful.
This depends heavily on what the contract does and does not say. In the cases I've been in they have paid them, but I made sure that's what the contract said when I submitted the offer for the buyer. Talk to your agent and/or the title/closing company, they should know what the contracts and/or bank addendums stipulate. Good luck and I hope things get cleared up.... more
In htese tough times you have to stand out from the crowd. Not knowing your specific market it is difficult to answer that. One thing for certain, using a broker is top on the list. Depersonalize the home so that it looks like a model. Visit open houses to see what others are doing and improve on that. Offer information to 1st time home buyers about the 8000.00 credit. Do open houses that offer solutions, have a mtg. broker ther to per--qual people.... more