Discover how Steadily can save you both time and money on your rental property Insurance: https://biggerpockets.steadilypartner.com/?utm_source=biggerpockets&utm_medium=youtube&utm_campaign=video1
You’ve just bought your first rental property, and you’re wondering how to determine rent prices. It can be tricky to figure out how much to charge for rent, especially when every listing in your area is priced a little differently. Thankfully, coming up with the right rent price isn’t that hard. Even if you have zero real estate investing or landlording experience, you can quickly calculate how much you should charge for rent.
There are a few steps to determining how much to charge for rent: Look at local listings, compare your rent comps, use rent estimator tools (for free!), and double-check your local laws to ensure compliance. Ashley Kehr, “Real Estate Rookie” podcast host, is breaking down each of these steps so you can charge the right rent for your first or next rental property.
Plus, if you’ve got a lease renewal coming up and are looking to raise rent to cover increasing expenses, Ashley shares exactly how she successfully raises her rent while keeping her tenants happy!
Visit Steadily for a commitment-free quote tailored to your needs today: https://biggerpockets.steadilypartner.com/?utm_source=biggerpockets&utm_medium=youtube&utm_campaign=video1
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Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
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Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
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Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
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Property Manager Finder:
https://biggerpockets.com/findapm
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Estimate Rent in Seconds with BiggerPockets Rent Estimator:
https://www.biggerpockets.com/insights/property-searches/new?utm_source=owned_media
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Hear Ashley on the “Real Estate Rookie” Podcast:
https://link.chtbl.com/Rookie
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Join a Real Estate Meetup in Your Local Area:
https://www.biggerpockets.com/forums/521?utm_source=youtube&utm_medium=description&utm_campaign=none
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Grab Ashkey’s Book, “Real Estate Rookie”:
https://store.biggerpockets.com/products/real-estate-rookie?utm_source=youtube&utm_medium=description&utm_campaign=none
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How Much Rent Should I Charge: 2024 Landlord’s Guide:
https://www.biggerpockets.com/blog/how-much-to-charge-for-rent?utm_source=youtube&utm_medium=description&utm_campaign=none
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Are You Charging Below-Market Rent? Here’s How to Get Out of It:
https://www.biggerpockets.com/blog/how-to-stop-charging-below-market-rent?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley:
BiggerPockets: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
00:00 How Much to Charge for Rent
00:32 Sponsor: Steadily!
02:00 Check Local Listings
02:57 Compare Amenities
05:10 Use Rent Estimator Tools
08:02 Lease Renewals
08:49 Laws, Regulations, and Rent Control
09:20 How to Raise Rents
10:19 Connect with Ashley!
