Thursday, June 14, 2007

Setting the Rent

According to the New York Times article Setting the Rent on NYTimes.com, the potential of rental income is enough to morph homeowners into landlords. However, it seems all landlords grapple with the same nagging question "How much do I charge?" Landlords argue that when a rental rents too fast, they feel they might have underpriced the unit, or if the rental takes an exceptionally long time to rent, the unit could have benefitted from a price reduction. Although, it isn't neccessarily the landlords decision of how much to charge, because rents are largely determined by market prices.

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