Ways of gauging potential rent?

[Syed Ahmed]

Would appreciate advice on gauging potential rent for a property? Are ghost ads ethical? Single family home. I've seen comparable rentals but not close to my property. Appreciate your input

[Wesley W.]

If you don't have rental comps in the area, maybe get creative with those properties that are similar, and then assess how much the differences are worth (e.g. garage vs none, fenced yard, etc.).

If you would really like to get an accurate assessment of what your rental's market price is, start a little above what you think it should be and see what kind of response you get from the online ads.  At that point, the responses are going to be primarily based on your offered price vs. disclosed amenities, so you can get a good idea by the volume alone.

If the response is limited, drop the price by $25 after a week (preferably having the weekend in the middle of this several day "test"), change the default image and alter the ad title slightly (or, alternatively, post a new ad) and give it another week.  You'll soon find your market rent.

Good luck!