Rental Price Benchmarking

[Kevin Poulin]

What are some tools that people use to figure out what comparable homes/units are charging tenants for rent in an area you're interested in investing in?

[Michael Baum]

Hey @Kevin Poulin, I pull all the basically similar places on AirBNB and VRBO.

Check their nightly rates, occupancy and amenities. That will give you a good baseline to start from.

You can also use AirDNA by buying the specific area to drill down farther.

Try https://www.awning.com/airbnb-estimator as well. It pulls the same data as AirDNA does but it is free. They have added that you need to create an account, but it works pretty well.

What you want to do is figure out exactly what you want and where, then start comparing.