Comments on: Setting rental rates for Condo #1 http://www.livelearninvest.com/setting-rental-rates-for-condo-1/ Living life to its fullest by generating passive income through investments Thu, 02 Feb 2012 03:11:13 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Monevator http://www.livelearninvest.com/setting-rental-rates-for-condo-1/comment-page-1/#comment-25589 Monevator Wed, 20 Feb 2008 10:18:58 +0000 http://www.livelearninvest.com/blog/setting-rental-rates-for-condo-1/#comment-25589 That's ambitious stuff trying to raise the value the market gives to rents in your building, rather than following the price dictated by the market. I'll be interested to see how it turns out. (Based in the UK, we're constantly told the US property market is in meltdown right now...) That’s ambitious stuff trying to raise the value the market gives to rents in your building, rather than following the price dictated by the market. I’ll be interested to see how it turns out. (Based in the UK, we’re constantly told the US property market is in meltdown right now…)

]]> By: Kenric http://www.livelearninvest.com/setting-rental-rates-for-condo-1/comment-page-1/#comment-25372 Kenric Tue, 19 Feb 2008 06:28:01 +0000 http://www.livelearninvest.com/blog/setting-rental-rates-for-condo-1/#comment-25372 AI, so far all my tenants have had paying parents. A couple had no credit so I ran their parents credit who also co-signed. There are competing buildings, but this building is 3 years old and closer to campus. Distance to campus is a huge factor since they have to walk to class in the Chicago cold. I have 4 months to rent out the condo. It will be an interesting experiment. AI, so far all my tenants have had paying parents. A couple had no credit so I ran their parents credit who also co-signed.

There are competing buildings, but this building is 3 years old and closer to campus. Distance to campus is a huge factor since they have to walk to class in the Chicago cold.

I have 4 months to rent out the condo. It will be an interesting experiment.

]]> By: Trisha http://www.livelearninvest.com/setting-rental-rates-for-condo-1/comment-page-1/#comment-25366 Trisha Tue, 19 Feb 2008 05:41:52 +0000 http://www.livelearninvest.com/blog/setting-rental-rates-for-condo-1/#comment-25366 Well, you may not end up with students for tenants again--but, a professional might be looking, too! You can always just give it a shot. It will become readily obvious to you if you've priced it too high. Well, you may not end up with students for tenants again–but, a professional might be looking, too! You can always just give it a shot. It will become readily obvious to you if you’ve priced it too high.

]]> By: Another Investor http://www.livelearninvest.com/setting-rental-rates-for-condo-1/comment-page-1/#comment-25318 Another Investor Mon, 18 Feb 2008 20:55:18 +0000 http://www.livelearninvest.com/blog/setting-rental-rates-for-condo-1/#comment-25318 My best Tempe renters have always been graduate students and post-docs. Two to four years of quiet, studious, on-time tenants. However, I have not found that they would pay more than other tenants. Most of the graduate students and post-docs were employed, not living off mom and dad. Since the employment was usually with the university, these folks tend to be very frugal. If you have no competing buildings in the vicinity of your condo, you may succeed. Otherwise, you may just help the landlords down the street rent their units faster. My best Tempe renters have always been graduate students and post-docs. Two to four years of quiet, studious, on-time tenants.

However, I have not found that they would pay more than other tenants. Most of the graduate students and post-docs were employed, not living off mom and dad. Since the employment was usually with the university, these folks tend to be very frugal.

If you have no competing buildings in the vicinity of your condo, you may succeed. Otherwise, you may just help the landlords down the street rent their units faster.

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