Highland Center, in Southeast Iowa | CentralIA - 12/6/2023 14:44 Currently, I manage the parsonage for our church. Originally it was used to house the pastor and family, but we no longer have a full-time pastor utilizing the parsonage. I’m not very well-versed in rent values, and with the way the current economy is, what would be an appropriate amount to charge for rent in small town Central Iowa? I want to be fair to the tenant, but I also want to make enough money to make any repairs that need to happen down the road, as well as pay property tax, since it is no longer exempt. Personally, I would like to sell the parsonage but at this time the church doesn’t see it that way.
I, too, would prefer to sell than to be a landlord. But........how close to DSM or other "hub" city? If you're like us and out in the middle of the sticks, it most likely won't be able to wash its own face. Close enough to be a bedroom community, it can be pretty pricey but so are services to keep it up. Along with that comes the quality of tenant. There are certainly good ones out there. But generally, if they can afford the type of rent that your parsonage should get, they'd rather buy than rent. I'd sure talk to someone familiar with the legal side of home rentals, so you know where your rights as owners are.....after it's occupied, can you inspect the premises with notice? What kind of screening process will you use? Do you have church members who are pro electricians, plumbers, etc who could save you some money on repairs as they come up, because they will? I don't envy your position. |
Parsonage Rent
