How do you estimate rent?

Question

Hi all. When analyzing properties, where do you find how much a property would generally rent for? I have used Rentometer.com, but I've run out of free trials. Are there any other sites that estimate rents?

Chad Hale · Answer

Check Craigslist, Zillow, Trulia, etc or whatever is commonly used in your area to see what rents are going for.

Rentometer is a ballpark tool in my experience.

Account Closed · Answer

Continue using Rentometer. Don't be cheap. Pay for the full service. You are walking over dollars to pick up pennies. Once you realize the dollar value of your time you will see how silly your question is. No offense meant.

Kyle J. · Answer

@Justin Yurong  You need to check multiple sources (i.e. Craigslist, Zillow, Trulia, Rentometer, HotPads, local property management company, etc).  One single source is not enough.

Here's a guide that BP put out a while back that might give you some more ideas:

THE ULTIMATE GUIDE TO FAIR MARKET RENTS

Patrick M. · Answer

I, at least weekly, go through Zillow. I save the apartments so that I will always be able to look through them. In my location there is a wide gamut between “luxury” and basic so rento meter is no good to me. I need to see the inside and investigate further so that I can really see how they compare.

Jay Helms · Answer

And a great property manager who has units in the same area as your rental @Justin Yurong.

Justin Yurong · Answer

Got it. I appreciate the input, Mike. Thank you.

How do you estimate rent?

Most Popular Reply