Profile picture for gld98

How to find rent comps

  • February 10 2009 - Richardson
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Answers (10)

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.
  • July 28 2011
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Profile picture for erandbro70
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. :-)
  • July 28 2011
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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.
  • July 28 2011
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Profile picture for Sharon Lewis
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
  • July 28 2011
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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. 
  • July 28 2011
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Profile picture for Sharon Lewis
A real estate professional can pull those figures for you too.
  • July 28 2011
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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.
  • July 27 2011
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Profile picture for COREXRE
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 ...................
  • July 27 2011
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Profile picture for erandbro70

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.

  • July 27 2011
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Profile picture for Sheila Barrett


Try Rent-O-Meter- you can type in the zip code and see what other properties in the area are renting for.
  • February 11 2009
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