Knowing what to charge for the home or apartment that you want to rent is important to getting a signed lease. Charging too much will scare off renters and price you right out of the marketplace, leaving you to pay for a vacant space. Charging too little may cause potential renters to believe there is something wrong with the place. Knowing the cost of rent per square foot is a good technique to use when trying to rent your space. It will show your potential tenants the value that they are getting per square foot.
Measure the width and length of each room and write it down on a piece of paper. Make sure that your measure each room in the property you are trying to rent.
Add together the width of all rooms and write it down.
Add together the lengths of all rooms and write it down.
Multiply the total width by the total length. The resulting number is the amount of total square footage of your rental property.
Divide the number of total square feet into your monthly asking price. The resulting number is the cost per square foot to rent the space.
Things you need
- Tape measure
- Pencil or pen