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[quote=Anonymous][quote=Anonymous]10:02- Rents are determined by supply and demand in the rental market, not the owner's costs. Many LL are forced to accept rents that do not cover costs. Plus, often rentals were purchased long ago, decreasing LL expenses. [/quote]

Agree.  Plus in my neighborhood where the houses rent for $2800 it is very transient.  Most of them are not professional landlords who bought the property for rentals.  Most were homeowners who either transferred out of the country or are on a temporary assignment so they rent out their homes for a couple of years.  We just bought in 2011 so it's also true that many of the older homeowners paid much less than we did.

On the other end of the equation.  I was a landlord in NoVA and we rented out our house for $2600 per month.  Our mortgage was about $2300, so pretty close.  We just did it temporarily, too.  Would have loved to have gotten more but that was the going rate.  Obviously OP will need to compare rental costs versus mortgage costs.[/quote]

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