Pricing a basement rental

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Real Estate May 11, 2012 at 9:01 am

Pricing a basement rental

So I’ve owned a rowhouse in Shaw for a few years near the metro— about 4 blocks away. I have a basement which I rented out to a friend of mine and he might be leaving soon so I wanted to see if anyone had any suggestions for renting it out. I figured instead of going on craigslist and jacking up the price based on interest, I would look for a fair price.  I am looking for constructive help.
I don’t have pictures handy but its about 550 square feet with a seperate entrance and totally disconnected from the main house. You get your own washer and dryer and bathroom and all utilities including cable tv and internet are included. It has 4 rooms– the bathroom, utility room (washer dryer, heater, etc) bedroom, and a small living room with a kitchenette (stove+small fridge+ microwave/over combo).

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Well the fact that it’s a kitchenette instead of a full kitchen is going to reduce the price and the interest a bit. Other than the fact that I’m currently renting an English Basement, I really have nothing but a guess for you. But I’d guess $1000-$1200/mo?

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