2200 sq ft home (4bed/2.5bath), on 9.25 acres, detached 3 car garage, 4 stall w/wash bay and tack room, with 6 individual turnout paddocks and a 100x200 arena. 27 miles outside of major metro (Charlotte, NC) - what would you charge for rent?
at least 1% of its value which I believe has been the standard for decades… if $300,000 = $3,000 per month
houses around me on small acreage set up for horses (less than 3 acres) are going for about 1.5% per month
http://affordanything.com/2016/04/28/one-percent-rule-gross-rent-multiplier/
This is completely dependent on location/area, local market demand and facilities.
An internet search for farm rentals in your area may give you a good idea. A couple of calls to some local real-estate agencys that also handle rentals would be a good start.
Or just let them handle it for a fee. If the fee is reasonable. Could save a lot of hassle, they will screen potential renters.
[QUOTE=clanter;9011950]
at least 1% of its value which I believe has been the standard for decades… if $300,000 = $3,000 per month
houses around me on small acreage set up for horses (less than 3 acres) are going for about 1.5% per month
http://affordanything.com/2016/04/28/one-percent-rule-gross-rent-multiplier/[/QUOTE]
This would be area specific. If 1% is the generally excepted rule of thumb our farm would be around $16,000 per month.
If we could get that we would move in a heart beat. Buy a smaller place and the rental income would easily service the mortgage on both.
the 1% rule is or was normally used for investment property, yes it is/could be adjusted depending upon market conditions (as in my area there is .5% premium because there are few available properties for sale or rent) however it is realist starting point… OP has none at this time
I’m getting $1200 for an 1800 sq ft house on 10 acres with perimeter fencing and not-so-great water. It’s about 8–10 miles from a town large enough to have a grocery store.
