Determining Rental Price

[Jeremy M.]

From your experience, what is the best way to determine the rental price for a rental property you just purchased? 

Currently, I am looking at comps my realtor pulled for the area and using the average Lease Price Per Sq Ft. I know that doesn't take into account the finish/quality of the homes, but is that method generally accurate? 

Also, if the home you've purchased has just been renovated and of generally higher quality finish than the average home on the market, does that significantly impact the attainable rent price?

Thanks for your advice!