Hello and Good Afternoon Everyone,
I have a friend of mine who is interested in continuing to rent half of a house with a private entrance following its sale by the landlord. The half which is of rental interest is very small. It only has one square room which is treated as a living room, kitchenette, and bedroom. There is a tiny private bath and shower in addtion to a tiny closet area. I am assuming if there is a formula used in computing an estimated monthly rental on such a unit, the total square feet of this unit will be needed. Also, this small duplex is old as well and in need of some repairs. Electrial, water, and internet are still on and working.
If someone could share to insights regarding what this person can expect to continue paying for this duplex, it will be greatly appreciated. I guess this question falls more within the category of real estate which I know very little about. At the moment, my friend is paying $420 which covers monthly rent, utilities, water, and nternet access through AT & T DSL.
Thanks so much in advance for any help given.