Rent rates

[Kewin Garabito]

Hey gang,

I was wondering, who exactly should one go to when they want to find out the different rent rates that tenants are paying for in a certain area?

[Kelly N.]

Hello Kewin,

I get this type of information from my realtor, from the government's "Fair Market Rent", but the best way to get this info is to find advertisements- realtor.com, zillow, craigslist etc.  I have a target area we invest in, so I created a spreadsheet of rents in that area with apartment size, amenities, and who pays utilities.  This helps me get a good sense of the range of rents out there and where we fall in that range.  You can also go look at some of the apartments yourself to get a better idea of the quality etc.

Kelly