I have a 2-bedroom apartment in a middle-class neighborhood and I'm thinking about renting it out. I've never done this before and I have no idea what price to set. How do people figure this out? Is there a formula or do I just look at what's being charged in the area?
The most practical way is to actually look at listings in your area - sites like OLX, Imóvel Web, and local real estate agencies give you a real idea of what's being charged for something similar to your apartment. Then you consider: exact location (near the metro, shopping?), condition of the property, whether it has a garage, if the condo fees are expensive. There's no magic formula, but most people use the average value in the region as a base and then adjust up or down depending on your place's features. If you want to be more conservative at first, set a price slightly below the average - you'll find a tenant faster and then you can raise it in the next leases.
The thing is, don't just look at the advertised price, but also how long properties stay listed - if there's a T2 just like yours that's been up for 3 months, that could mean it's priced too high and you need to drop it a bit. Do research in several places (OLX, real estate agencies, neighborhood Facebook groups) to get a realistic picture, and remember that a brand new apartment or one with fresh paint can charge more than one that needs renovations. Once you find the right price range, leave some room for negotiation - nobody's interested in an ad with a fixed price.
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