So I've been on a bit of a writing tear of late. Here's my new BiggerPockets article, "A First-Time Landlord’s Guide to Setting Rent on a Property"
Remember, properties with a mortgage rarely have a large amount of cash flow. Oftentimes, it will be something close to $100/month. If you set your rent $100 too low, then your cash flow goes to zero. If you set it $100 to high, it might sit vacant for an extra month. In which case, if the property rents for $1,200/month, again, your cash flow for the year goes to zero.
So, how should a new landlord or property manager go about setting rents? Well, I'm glad you asked.
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