I Am Looking At A Rental House, Need To Know If This Sounds Like A Good Deal?
Is there a way i can check local rental rates in my area to see if this price i’m getting is competitive or outrageous? It’s roughly a 50 yr old home, 1600 sq ft, 3 bd rm, 1 1/2 bath, with 2 car garage, privacy fenced back yard, and fireplace. Also utility’s for previous tenant ran 60$ a month for gas and 90$ for electric. They are asking 825$ a month as well as a 700$ deposit and 300$ for pets. It’s located in Midwest City Oklahoma. Any info is appreciated. No negative comments please…
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January 15, 2010 @ 2:42 pm
That is low for my area. 3 bedroom here (west coast) go more for $900-1,200 depending on how much land and or how close to the beach. It is not uncommon to rent a beach front house for $1,500.
You can ask other realtors and property managers in your area what they think of that rate. A local is really the only one that could tell you.
January 15, 2010 @ 7:52 pm
I would go on to Craigslist and look at comparable properties. That is the best way to get some quick information without calling a bunch of people.