Calculate Rental Rates: A Guide to Price Per Square Foot

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.

Step 1

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.

Step 2

Add together the width of all rooms and write it down.

Step 3

Add together the lengths of all rooms and write it down.

Step 4

Multiply the total width by the total length. The resulting number is the amount of total square footage of your rental property.

Step 5

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'll Need

• Tape measure

• Paper

• Pencil or pen

• Calculator