Apartment vs. SFH - Landlord Forum thread

Apartment vs. SFH by Anna Mouse on January 26, 2012 @11:23

In pricing my SFH I have always compared to the other SFH in my neighborhood.

Never have I compared the apartment or loft prices as they are in the middle of downtown where my neighborhood starts on the edge of where the city leaves off. There are no houses Downtown all sky scrapers and old buildings turned into lofts

Good news, even with the recession, there is an apartment building going in. It is going to be very nice and it will replace an old, not historic, strip mall.

Here is my question, now that this new building is coming soon should I use the rent price to compare with mine.

I realize there is a difference, pro's and con's to a SFH, or a ritzy apartment. Each fits the needs of their tenants. The people looking for a SFH want property and a larger space for storage including and in my properties case a huge garage. A SFH also allows you not to have neighbors on all four walls. I think the pro's and con's of each are equal and it comes down to what you want. A SFH allows those who are changing lifestyle and wanting to be grounded to have a house without buying just yet.

So again should I look at the price per sq foot now that it is a nice place right in my rentals neighborhood?

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Re: Apartment vs. SFH by LisaNY on January 26, 2012 @12:52	[ Reply ]

Hi, Anna, I always considered a SFH's rent should be higher than an apartment rent. Here ( up-state NY) a 3 BR SFH is between 1/3 to 1/2 higher than a 3BR aprt, in the same neighboroohd.

Re: Apartment vs. SFH by Anonymous on January 26, 2012 @19:29	[ Reply ]

Depends on the condition of your house. If it is on par with a brand new apt then I would charge more because typically a house goes for more. Now if the house is old and run down or dated then you have to adjust for that. I do not look at apt prices but only sfh rentals on the market when pricing mine.

Re: Apartment vs. SFH

Re: Apartment vs. SFH by Anonymous on January 26, 2012 @20:29	[ Reply ]

I have found in over 10 years of landlording in my market, that tenants for apartments, and tenants for SFHs, are two different animals. I rarely find my SFH compared to any type of apartment. I agree that SFH house rental prices are significanlty higher than a comparable sq. footage apartment. After all you get LAND with the SFH and so much more.