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How to I find an estimated rental value for a property?

  • May 30 2010 - Upper Land Park
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Answers (10)

There are several resources: Craigslist, Rentals.com, Local newspaper, Property Management Companies and a realtor who knows the rental market.  With Craigslist, you can narrow down the area by typing in the zip code.  Of course you need to take into consideration location, size and condition of the home.
  • February 05 2011
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Talk to a real estate agent. Call a few apartment complexes. Newspaper. Craigslist.com. Put 'em all together and you'll have a good idea.
  • November 23 2010
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I have found that driving through the neighborhood works well.  Also Craigslist is a great resource for what your competition is doing. Google maps provides a nice tool for looking at nearby rents as well.

You want to make sure that you are really looking at comparable properties though when investigating rents.  Neighborhoods, condition, physical characteristics all matter.
  • November 23 2010
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The best way would be to compare rents in the paper and Craigslist.  They are your competition.

Amir Cackovic, Broker, LEED

www.AmericanGreenRealty.com = Realtors for a sustainable future

  • August 26 2010
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Find an appraiser and tell them to do an income approach on the property.
  • August 24 2010
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A lot of appraisers use Craigslist for their rental data when they need to do a rent survey for a client. Also drive the area and talk to people, ask 'how much do xxx bedroom homes rent for in the area' ...you would be surprised how close the rents are...
  • July 13 2010
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Profile picture for tdefazio
I would recommend looking on craigslist.org to see what similar homes are renting.  I find that most tenants find their places on craigslist these days.
  • July 13 2010
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Profile picture for emtjweber
Contact a realtor familiar with the area and do a common sense reality check in your own mind.   What would you pay to rent the property?   Be realistic... one month of missed rental revenue can take a full year to make up at an inflated rate, two months or three and you get the picture.    Typically you want to cover the taxes, insurance and mortgage payments on a property leveraged at about 80% debt to value.  If you do that and you're in an area that's appreciating you'll be fine over the long run.
  • June 01 2010
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There are websites such as rentometer.com that offer free estimates of rental value (though I am not sure how accurate the estimates are or what data is used to come up with the rental value). To get a true estimate, it is best to contact a professional (property management, etc.) to get your property appraised. 
  • June 01 2010
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Hi - in Sacramento, CA. a property managment company compiles a great quarterly rental report that will give you an estimate of rental value by zip code and number of bedrooms. Go to www.homepointe.com, under Owner Servies to the left, look for the Rental Survey. It goes back to 2006. Hope this helps.
  • May 30 2010
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