Travis, Other/Just Looking in

I own a home in colorado springs, co. old farm area. It is a 3 bed 2 ba, b/i 1992 what is a reasonable rent?

Asked by Travis, Tue Jun 24, 2008

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Hi Travis

According to local information Rental vacancies in the area remain in the 7 to 10% range, so there is a lot of rental competition out there. Despite this rental rates have remained relatively stable.

Without knowing the general condition or square footage of the property as well as the number of garage spaces it is difficult to get a tight comparison of rental rates, however, for a property of that age in pretty good condition, I would estimate that you might be in the price range of $800 to $1,000/month based on activity in the area over the past year.
1 vote Thank Flag Link Wed Jun 25, 2008
North is a little more popular. Ask 1200 but be willing to negotiate
0 votes Thank Flag Link Mon Jan 10, 2011
Hi Travis,

According my quick research on Craigslist rentals, the area rents from $795 to $1400. The best way to see if your house would rent for your asking price would be to post your rental on Craigslist (Include photos). The time and effort for a great posting could be worth a higher rental price and the higher rent could help weed out the not-so-good tenants. If this is your first rental, I would recommend buying a book on property management (Property Management for Dummies). Have everything on contract.
0 votes Thank Flag Link Sat Jun 28, 2008
I would agree with the $800 to $1000 range. One thing to consider also, if you are renting the home to enable you to buy another home you might consider all options. Becoming a landlord has it's benefits and drawbacks and if the sole reason to rent your home is to enable you to move to another home you might look at selling the home. If you truly want your home as an investment and want to own investment property then learn all you can about how to be successful at that business. If you want any literature or help you can always email me if you don't have a personal realtor to help you.
0 votes Thank Flag Link Wed Jun 25, 2008
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