Townhouse rent rates in Greenbelt, MD? - Posted by GregoryMD

Real Estate Investing
1

Posted by vern on October 27, 2003 at 22:40:20:

Greg,

You should be getting at least $1450…at least $1450. Your numbers are not unfair. Consider renting to a military person. Give the housing offices at Andrews, Bolling, and Ft. Meade a call.

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Townhouse rent rates in Greenbelt, MD? - Posted by GregoryMD

Posted by GregoryMD on October 27, 2003 at 14:39:14:

I have listed my 3bd 2.5ba 1300sqft townhome for rent but having trouble determining the rent and I don’t want to go another few months in vacancy.

I asked my realtor what the comparable rents are and he says he saw one that’s been rented for $1650 down the street in Mandan Road, where my property is located, so he thought I can get about $1700. Says he can’t find anything else to compare to.

I listed it for about 2 months now and all I get are people with credit problems/bankruptcies who probably couldn’t find an apartment that accepts them. I really don’t want to rent to people with credit problems so I dropped it down to $1650 and still noone that qualifies. I dropped it another $50, still no one good even at $1550. My realtor says there doesn’t seem to be any comparable rents listed in RECENT days to get a feel for the actual market, so best we can do is to drop it down another 50 each week until it rents
but i kinda wanna rent asap without dropping down to some ridiculously low rate.

Does anyone know what the REAL rent rates are in the greenbelt, maryland area for similar townhomes?

Thanks,

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Re: Townhouse rent rates in Greenbelt, MD? - Posted by Andrew

Posted by Andrew on October 29, 2003 at 12:45:41:

What do the 3/2 apartments rent for at Glen Oaks on Mandan? That’s your floor price and your main competition, BTW.

Most (not all) people that have decent credit could buy a similar townhouse for less than $1,700 per month. If they’re trying to save money then they rent an apartment for $500 less. So, there may not be much rental demand in that price range.

Vern had a good suggestion about the military, but NASA is right down the street and I think they have a paper you can advertise in.

Best of luck!