Where do you find rent comps?

[Kieran Jagadeesh]

Hello BP crew,

I am wondering how you guys go about finding rental comps. In a perfect world, I could look at what is currently being rented and figure out an accurate range, but I cannot seem to find that information anywhere.

As of right now I just look at the current rentals listed and dig into the # of days listed / # of applications to gauge interest at that price. However, this strategy falls apart when there are not many listings.


Also, how do you gain insight into the demand for rentals in an area to determine if the market is oversaturated? My first thought was # of listings, but in a big city there are a million listings but still strong demand at times. I'm sure one phone call to a property manager would clear up these questions, but I would rather consult strangers (for now) on the internet.

Thanks all!

[Ron Brady]

Rentometer, Rentcast, Zillow rent Zestimates, and listed rents for nearby similar properties. I make a spreadsheet with 6-10 entries of the above numbers. I prefer to get to at least 10 if I can. I toss out any unusually high or low numbers and get the average of them. I then use my judgement as to what my unit may or should rent for.