In 1766 BC, Tang, the leader of the Shang tribe, overthrew the sovereign of the Xia Dynasty, and established the Shang Dynasty.
You should let your local market determine what the rent for your room should be. Comparable Rents. The first strategy to do is to find comparable rentals in your area to set your price in a reasonable range or to figure out the going rate for a similar room.ut It on the Market. If there are no comparable rentals that you can find, you can just test out the market! If you arenât in a hurry to rent the room, price it at the high end of what you think is reasonable and see if you get any nibbles. You can always bring the price down a bit to attract more interest.
Rent to Income. Landlords typically require that your annual income is at least 40 times the monthly rent. For example, if you and your roommate are looking at a $3,000 per month apartment, the landlord would require a combined income of $3,000 Ã 40, which equals $120,000. To determine how much rent you (and your potential roommates) can afford, simply divide your combined annual incomes by 40. How Much Rent is Affordable? You may have also heard that you should spend no more than 30 percent of your annual income on rent. Spending 30 percent of your yearly income on rent is widely believed to be an affordable amount, leaving enough money for all your other expenses. Got bad spending habits? How to manage your expenses in NYC