How Much Can You Rent Your Home For?
If you're having trouble selling your home in today's market, renting it out may be worth considering. I've had conversations with homeowners who are sitting on a property that isn't getting the offers they expected. Sometimes the problem is the price. Sometimes it's the market. And sometimes, the best move is simply to stop trying to force a sale and look at the numbers from a different angle. Could renting your home out for a year or two make more sense than selling it today? Maybe. But the first question I usually get is: "How much can I rent my house for?" The answer isn't always as simple as looking at what your neighbour is asking. Getting the right rental price is important. Price it too high and your property could sit vacant. Price it too low and you're leaving money on the table. Here's how I would approach it. Start With the Market, Not Your Mortgage One of the biggest mistakes I see homeowners make is basing their rental price on wh...
