What do you use for Rental comps?

[John Acklen]

Hi All -

What sites do you use to determine how high you can push your rents? I've been using Rentometer, but it doesn't do a very good job at differentiating between property classes, amenities, etc.  Any other sites/services out there or is this the best option? 

[Brian Burke]

No free website is very useful.  There are a variety of paid resources such as CoStar, REIS, Axiometrics, and Yardi Matrix among others. These are expensive but if you are working with a management company that specializes in large properties they might have this service and can pull reports for you.

But even the paid services are no substitute for good old-fashioned shoe leather. Know your comps and visit them to not only ask what they charge but also to get a feel for the quality of the units, renovation level, curb appeal, functional obsolescence, etc.  

If you know your comps well you can use the individual complexes’ websites to check their rates, but those can vary widely in accuracy. There is just no substitute for visiting the competition.