Profile picture for MShSanDiego

How can one determine the rent for a property?

Hello,

I am renting my property in El Cajon, CA; 3 brm, 2 bath in El Cajon, CA, built 2000. How do I determine fair rental price?
  • March 01 2011 - East Village
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Answers (10)

Profile picture for blue screen exile
And now that Zillow offers RENT Zestimate on most residential properties on this site, it is even easier to get a ball park "starting" number for the rent of a given size and amenities in a given area.

You still need to check what the competition is charging, and confirm the differences in what yours does or doesn't provide that is different from the competition.
  • March 11 2011
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Profile picture for humptydumpdy
I have a 12 unit apartment building on c st and 28th st in golden hills section of san diego ca.  what rent can I expect for a two bedroom two bath unit in very good shape

My E mail address is     luckbud@yahoo.com
  • March 11 2011
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Profile picture for MShSanDiego
Thank you all for the answers, very helpful!
  • March 02 2011
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Appraisers can also do rental survey, the cost about $75, you get an offical form.

Here is a link to find an appraiser in your area...

https://www.asc.gov/National-Registry/FindAnAppraiser.aspx

Realtors and property managers are great, but some wont give you the time of day unless they are compensated in some way, they are usually very busy.
  • March 02 2011
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We see the best way is to check with a Realtor for most recent rentals in the very very near neighborhood.
Then pick a price about $100 per month above that, advertise it, but be ready to change the price immediately.  If your first price does not draw potential renters (several of them) and it does not rent right away, then drop the price by $100 and try again.
Repeat this process by $50 increments until you get really good traffic.  Works for us.

  • March 02 2011
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My favorite site for rentals used to be called Zilpy.com, now I belive it's www.finestexpert.com. I find it to be very accurate, and it contains a lot of great information. Of course you can always just contact your local real estate expert for a professional opinion.
  • March 02 2011
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craigslist.org, rentometer.com, your local newspaper ads, advertised rentals on the local mls that any realtor can email you in a couple minutes...
  • March 02 2011
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The best way is through a REALTOR that is familiar with both the area and rentals, but a convenient, albeit less accurate way is through rentometer.com.
  • March 02 2011
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Hi there,

Craigslist is used, a lot, by owner landlords and property management companies to advertise rentals. It won't be hard to scan the rentals for a home similar to yours, to get an idea of rent.

Another good way to determine value is to call a few property management companies, as a renter or as a potential owner client, to see how much similar homes rent for. Ask them to send you a list of their current homes for rent or ask for a link to their Web site.

Look for homes in your neighborhood, and similar neighborhoods, and houses like yours if you can find them.

If you'll be managing the home yourself, I really recommend having a good real estate attorney on hand to answer any legal questions you have, and to help with problem tenants. There are a lot of Web sites that have good information, but be sure you doing everything legally; judges tend to be on the side of renters, so follow the law carefully.

Good luck, and let me know if you have any other questions.

Cory
  • March 02 2011
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MShSanDiego,

The best way is to contact your local Realtor to provide you with a rental survey of the area.
  • March 01 2011
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