It depends on what type of septic system you currently have and the proximity of the property to the ocean or other bodies of water.
Here's a link to RI Department of Environmental Management.
Please let me know if I may be of any assistance.
Arthur Chapman... more
The previous sales price has no bearing on the price today. The rental income the property is generating, or is capable of generating, should be used to determine an asking price on a multi-family dwelling. It should be compared to other, similar income properties (if any). Any obvious repairs should be accounted for to come up with an offer price.
Income properties are often more difficult to price, and the market for them is significantly smaller than for residential properties. It's especially true these days, when it is harder for an investor to get financing.
If you're working with a real estate agent, you could ask them to research comparable properties and find out what they are renting for and what condition they are in.
Good luck!... more
There are many home owners in your situation....considering, renting vs. selling.
A possible approach is one that one of our customers has embraced. They are renting while the property is on the market "for sale." The owners made arrangements yout the renter and were given a special rental reduction rate for their willingness to be inconvenienced because of showing interruptions.
This has met the needs of everyone thus far, the owners have their home on the market and the renters are getting a break on their monthly rental. They also have a six month lease agreement.
Good luck... more