Patty Hanson, Other/Just Looking in North Wales, PA

What is the rental value of my townhouse in N. Wales PA?

Asked by Patty Hanson, North Wales, PA Sun Jun 15, 2008

My home's value is about $224, a townhouse in N. Wales. PA 2 stories, 1.1 baths 2 bedrooms good condition, fireplace. I may place it up for rent. What do you think I should ask for the rental? The HOA fee is $95 a month. It's a dollhouse, 1,142 sq. taxes around $2400

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Its worth as must rent as a renter is willing to pay, (for dollhouse or jailhouse). Just because you spent money and expect a rent, that does not translate into what the renter can afford or want to pay, you also have to look at your competition. Lately, everyone is so convinced that 'their' home has value, what they forget is that they in turn were convinced what it was worth, in todays terms its absolutely meaningless, its worth what the next person is willing to pay. (sometimes it can be a lot, sometimes you will be surprised how low it is)
0 votes Thank Flag Link Wed Jul 9, 2008
make sure you can rent the home for enough to cover all you expenses + make a little money. how much does it cost you(mortgage+taxes+insur+assn fee) vs. how much can you rent it for (check to compare rentals in your area). does your assn allow rentals?
If you need more help just contact me via my website. good luck!
0 votes Thank Flag Link Mon Jun 16, 2008
You have to look at this situation as an investor. ask yourself a few ?'s. most importantly can you rent the house and cover all your expense + make a little money( mortgage+insurance+assc fee+taxes= total for you) how much can u rent for, check to see rental prices in your area). if you can rent for more than you have to pay monthly, good. make sure the assn allows rentals! if you need more help contact me through my website
0 votes Thank Flag Link Mon Jun 16, 2008
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