Rental Property Analysis

[Adam Sieg]

I'm curious if anyone has thoughts on the accuracy of rental property analysis from property management companies as compared to expected rent from places like zillow or realtor etc?  Obviously, the companies will try to boost up the rental to entice you to choose them as they indicate they can get this rent; however, I've had analysis done with separate companies both came back with similar figures ~$2100/month rental (they have not performed an in-depth analysis just based on location etc).  When I look at zillow or other sources it suggests a monthly rental of closer to $1800.  Full disclosure, we own the property and are renting to friends currently but are looking to transition this to an actual rental property shortly.  I'm not sure if this significantly alters the zillow quote.  

[Stephen Glover]

@Adam Sieg  What @Jeff Copeland said is correct. Quality PM's would realize it's a long term relationship.  Focusing on the immediate short term gain would set the PM's up to lose in the long run by setting the wrong expectations.  Overpromising and underdelivering.

Anyway- you have the right idea, but in short, if two different PM's are in the ballpark you can feel a little better about it.  Zestimates have no idea of the condition of the home, or the difference between one neighborhood or another.  Zillow is often misleading.  I've rented 2 homes this week for $200+ over the Zestimate, and that's just top of mind from this week. Scary that Zillow now wants to replace PM's.  Trust local professionals.