How to determine rental demand in an area

[David Kraljic]

Hi everyone. I am a complete noobie. We are considering moving out of our house but keeping it as a rental. So I am wondering how I can determine the rental demand in my area for my specific type of home. I guess what would make me comfortable is seeing some numbers regarding recent rentals - volume, time on market and rental prices Thanks

[John-Paul Micek]

Have a Realtor pull comps on properties rented in your neighborhood grid in the last 24-months with the same bed/bath configuration as your house. Make sure they include the DOM (days on market) for all properties. Look at the DOM for properties in similar condition to yours. That will give you a good basic understanding of both demand and relative pricing in your area.