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Updated almost 6 years ago on . Most recent reply

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29
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3
Votes
Jacob Compton
3
Votes |
29
Posts

How do I determine rent price for a property?

Jacob Compton
Posted

Hello BP!
I am a new real estate investor, currently doing research and looking to buy my first investment property soon. Can anyone tell me how to determine how much a SFH can rent for in an area?

And before I get yelled at for not doing my own research... I do know of rentometer.com, craigslist, and Zillow has a section that shows estimated rent. However, I get varying results when comparing those 3 and just wanted to know if anyone could tell me how to get the most accurate rent estimate for a property.

Thank you for any advice!!

Most Popular Reply

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94
Posts
43
Votes
Kathryn Daniel
  • Property Manager
  • Gurnee, IL
43
Votes |
94
Posts
Kathryn Daniel
  • Property Manager
  • Gurnee, IL
Replied

I rely on Rentometer, Craigslist and Zillow when pricing my rentals. I also use Sean's methods above. Determine how your property compares in terms of finishes, amenities, parking and laundry situation, etc. and adjust accordingly. Once you list your property you can always adjust the rent as needed if you're getting too many or not enough inquiries and applications. I hope that helps.

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