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Updated over 8 years ago on . Most recent reply
How confident do I need to be in market rents?
Hi all. We're in escrow on a 4 unit that we plan to owner occupy. The units are below market rent and need work (of course!); however, I'm only ~80% confident in my post rehab rents because this property is located in a small pocket of other rentals. Most of the comparative rentals are outside this little pocket (only a half mile away or less, but that can make a huge difference). I've done my research on rentometer, Zillow, and Craigslist and I've calculated our financials with rents lower than my estimates. We're covering all our bases, but this is our first time rehabbing and renting so I'm sure there's more I don't know I should be doing. Thanks in advance for your thoughts!
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If I get > 5 people interested then I know I have priced it too low. My goal is usually 2-3.