- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (10)
- David Cooper-Las Vegas, "LasVegasRents"
- Contributions:281
Craigslist, even if the rents are priced wrong, really sets the market because there are so many rental ads. I have better looking properties than craigslist comps, but if I don't price it close to craigslist prices, I won't get any calls.
- erandbro70
- Contributions:3
Sorry, I just noticed that I goofed on my write-up. (Never post after 9pm) :-) What I meant to add is that the neighborhood my house is in, may now actually be in a $2000 per month rental category; however, if I used one of the popular internet based options (rentometer), it would tell me that I'd be $800 per month over the market. Again, since I'm already getting $1750, it was not only wrong a year ago, it's STILL wrong.
Also, on this whole Craigslist thing that's being promoted......how do you all know that the benchmark that was created in the first place on there is actually indicative of the market at large? There you have an entire demographic of 'do-it-yourself-types' who have taken that behavior to real estate. One person places his/her ad, and a number of others try to mirror that individual based upon floorplan and amenities; well, if that first person was off, what's everyone else going to be who piggy-backed to his/her post? Maybe that first or 2nd poster went to a rentometer site, or the like to establish his/her price. In other words, I don't see how it's viewed as reliable enough of a source for such a major transaction.
I'm sticking with going to a realtor/real estate pro; not only am I sure that they can get you more accurate info, but I bet the lease agreement they'll write up for you will be significantly better than the one you'll write yourself......or that you'll find on the internet. :-)
Also, on this whole Craigslist thing that's being promoted......how do you all know that the benchmark that was created in the first place on there is actually indicative of the market at large? There you have an entire demographic of 'do-it-yourself-types' who have taken that behavior to real estate. One person places his/her ad, and a number of others try to mirror that individual based upon floorplan and amenities; well, if that first person was off, what's everyone else going to be who piggy-backed to his/her post? Maybe that first or 2nd poster went to a rentometer site, or the like to establish his/her price. In other words, I don't see how it's viewed as reliable enough of a source for such a major transaction.
I'm sticking with going to a realtor/real estate pro; not only am I sure that they can get you more accurate info, but I bet the lease agreement they'll write up for you will be significantly better than the one you'll write yourself......or that you'll find on the internet. :-)
- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:343
Try Craigslist, 9 times out of 10 you will find other similar properties in the area. Also ride the area and call any for rent signs. These are a few simple ways to get comparisons.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
Again, a real estate agent can help you....Craigs List would not reflect the negotiated prices plus there are other companies , other than CL that rent. You want the big picture.
Good luck to you
Good luck to you
Spend 30 minutes on craigslist.com [takes time to sift through the real/ and spam scam adds]
call an agent, have them email you similar homes that A. are for rent, and B have rented in the past 30 days.
You should have as good an idea as anyone after that.
call an agent, have them email you similar homes that A. are for rent, and B have rented in the past 30 days.
You should have as good an idea as anyone after that.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
A real estate professional can pull those figures for you too.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
ALSO you can HIRE an appraiser to do a formal rent survey - for about $75. We do them all of the time for banks and lenders to establish rental income for borrowers.
HERE is a link to find an appraiser in your area. A rent survey typically includes research with the local MLS, conversations with Realtors and management companies, and - if necessary - door knocking.
HERE is a link to find an appraiser in your area. A rent survey typically includes research with the local MLS, conversations with Realtors and management companies, and - if necessary - door knocking.
- Rex Fuller, "COREXRE"
- Contributions:110
I agree with 'erandbro 70' below - plus I would visit your local Realtor Board or Association, and ask the question - what is the rent situation in the area in which you are looking? They have a pretty good feel as to rental occupancy rates and rent ranges based on investor feed-back (many RE agents are also rental owners), sales agents and other local sources. Also - look in your local papers and other sources and see what is renting and for what amounts!!
Best success ...................
Best success ...................
- erandbro70
- Contributions:3
Well, I'd question both of the advice from the last 2 posters. Rentometer.com in NO way reflects the present reality of the rental market in the Austin area. I have a rental in the Cedar Park area (single family home) that goes for $1750 per month, but probably should not be at nearly $2000 per month to reflect the current market. If I would have gone the rentometer route, last year, when I rented my property, I would be taking in nearly $500 a month less. Do this: Go to a friend in real estate, or a realtor you just happen to like and have him/her run the comps; they will be the most up-to-date.
- Sheila Barrett, "Sheila Barrett"
- Contributions:217
Try Rent-O-Meter- you can type in the zip code and see what other properties in the area are renting for.
How to find rent comps
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.