how do you price renting your home?

Asked by Mcsnj49, Massapequa, NY Sat Jun 4, 2011

I'm considering renting my home in Allentown (Upper Freehold). Its an adult community 55 - house built in 2002 - ranch 2500 square feet, 3bd, 2 baths. What would be fair monthly rental cost be to ask? Would have access to all amenities in community. Indoor/outdoor pool, gym, activities, etc. I'm looking to rent for up to two years

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4
Rosemary Pez…, Agent, Cream Ridge, NJ
Sun Sep 9, 2012
Since I've rented several homes in this adult community, I'm very familiar with not only the process but the fair rental fee. Please contact me. You are under no obligation. I hope to be of assistance.
0 votes
Francesca Pa…, Agent, Manasquan, NJ
Sun Jun 5, 2011
Mcsnj49,

First, you have to confirm that your community by-laws allow for rentals . . . some AC's do not allow rentals. (I am an SRES, adult community specialist, so I am familiar with the ins and outs)

Next, you have to find out what the procedure is for acquiring a rental, obviously proof that they are 55+, and application forms.

If you email me (francesca@PatrizioRE.com), which Adult community you are referring, I can give you some numbers for appropriate rentals and check out the past rentals without any obligation.

Sincerely,
Francesca Patrizio, Broker Associate, ePro, SRES
Francesca@PatrizioRE.com
732.606.2931 (DIRECT: 24/7)
Web Reference:  http://www.PatrizioRE.com
0 votes
Don Tepper, Agent, Burke, VA
Sat Jun 4, 2011
I price it by the comps.

I've got a home I rent out. And every time I need a new tenant, I look at the comps: How much are similar homes renting for in the same area? Then I price my home in that same range.

Since you're in an adult community, make sure the comps actually are comparable. Find out to whom the community will allow you to rent, and what other restrictions it might place on your activity.

There's a web site--http:/www.rentometer.com--that I've found to be fairly helpful. You still should have a Realtor pull comps, but Rentometer is usually fairly close.

Hope that helps.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sat Jun 4, 2011
You can consider working with an agent, and in doing so, he/she can provide you with area comps, recently rented similar properties, let you know about your competitiors, etc.; you can also check out rentometer.com
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