A Rent Survey

Well, I guess I'd better get started on this.

First, we need to do a rent survey, to see what investors are asking in the Akron area. Checking the Akron Beacon Journal for November 20, 2008, we find 241 rental ads running and 43 single-family homes for rent that we can identify by address. Using the Auditor's website, we fill in the missing data -- sometimes the bath count, always the GLA, separating out attic finish (which may contain a room used as a bedroom, but which many investors seal off as a liability concern), and checking for a garage.

The rent survey follows:
It appears that on average, there is a $37/bedroom difference between a 4-bedroom rental and a 3-bedroom rental, and about a $92/bedroom difference between a 3-bedroom rental and a 2-bedroom rental. It also appears that the 2-bedroom rentals, being smaller and possibly easier to maintain, return a higher rent/square foot ($0.63) than the others.

Our investor may possibly want to concentrate on 2-bedroom homes, which will likely fit his purchase budget more easily as well.