I have a duplex here in Los Angeles and am renting out the unit next
door in a couple weeks. I'm trying to figure out the right amount of
rent to charge. Right now it's $1700 and I have been told that's very
low.

The unit is on Sweetzer between Beverly and 3rd Streets, zip code
90048. It's a beautiful 1936 duplex, earthquake bolted with the
original wraught iron stair rail, hardwood floors, fresh paint and
plumbing, working fireplace, 2 br, 1 1/2 bath, enormous living room
and dining room, 2-car garage, washer and dryer hookups, a brand new
back yard and fresh landscaping all over. There's a balcony on the MBR
overlooking the backyard and a back patio with lights and a built-in
brick BBQ. It's a 10 minute walk to The Grove and to the Beverly
Center, with over 40 movie screens and literally hundreds of retail
stores and restaurants.

Here is what I'm looking for: an opinion on how much I should charge
for rent, and a list of at least 6 comparable rental ads to help
support that decision.

Note that if you're not in L.A. and very (VERY) familiar with the
neighborhood, you will probably need to find a way to "rate" my
immediate neighborhood (since neighborhood quality changes from block
to block) and then use that to find comparables around the area. I
think I've seen services like this on real estate purchasing sites
(i.e. "how much is your home worth?" and they determine comparables
based on my exact location), so I'm sure it could be extrapolated for
the rental market, or something similar. I will not accept an answer
that doesn't include at least some logic to factor in the quality of
my neighborhood/block; my zip code includes a number of better and
worse neighborhoods and a simple zip code search won't produce a
decent answer.

I know this may be hard because of the hyper-local nature of my
question... good luck :-) thanks.

best
Eric

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Request for Question Clarification by taxmama-ga on 25 Oct 2002 19:08 PDT

Hi Eric, 

I know exactly the neighborhood you're in. Still have friends or
family living blocks from you. In fact, one person I know rents a
duplex near you. But under
rent control, she's only paying about $1450.00 (near Harper and 4th)

In doing a search for duplex rents, I've found that without access to
a Realtor's database, it may be difficult to get hard data for you.
Though,
not impossible.

Two important factors you left out were 

1) The square footage of the unit. 

2) Will you accept pets?

I have found prices in and around your area ranging from $1400 - $2500
and up, for apartments and duplexes, depending on amenities, etc.

So, we'll need to narrow it down.

Thanks,

Your TaxMama-ga

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Clarification of Question by pnoeric-ga on 27 Oct 2002 10:44 PST

Thank you for the note. I don't know the square footage offhand-- I
want to say 1200 sf but that may be wrong. As imprecise as it may be,
the place feels HUGE-- you come in and the living room is giant, full
separare dining room, the MBR is large, the 2nd br is huge, etc.

I would probably consider a cat. (Does taking pets make a significant
different in rent?)

best
Eric