Unit renting at market rent?

[Jay Chang]

I am curious what else everyone is doing to make sure that the rental unit is renting at or near the market rent.

I personally do the following:

1) Is the occupancy a lot higher than the average physical occupancy in that area?

2) Go on a couple of tours for other similar buildings in the area. Pretend that I am a renter and see what they are renting $/SF.

3) Ask my property manager for a rent comp.

4) Go on apartments.com.

Any feedback is greatly appreciated!!

[Alvaro Soto]

hey Jay,

I know a lot of people say that asking your PM or you realtor are the best options and I agreed up to point, because if a property can rent for $25-$50 more the PM is not really going to care for 10% of that (that only 5 dollars at most) so the PM will give you the best rate where he or she can rented as soon as possible ( the easies option for them) ..... So what I do is rentometer. Get the Pro account is only 100$ at year that like $8.50 at month. Is completely worst it, specially if you a coastally analyzing your market or is even better when you are trying to break in to a new market. I like this approach because it give you a unbiased approach.