Wildly Different Rent Estimates

Member since 2024 · 3 posts · 3 votes

I am trying to rent out my condo. Zillow gives a monthly rent estimate of $2,200. Rentometer estimates an average of $3,500 and a range of $3,000-$4,000. Apartments.com estimates $3,500. BiggerPockets estimates $2,500. Any advice? Should I just post it at the high end estimate and adjust it down?

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Jonathan GreeneBusiness Member

Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes

Rentometer is likely to be the closest, but it depends on what condition your rental is in. If it's vanilla and your rental absorption is high, push to the bottom of the range and vice versa. No matter what you are pricing, a rental or a sale, you never want to price high and adjust it down because then people think something is wrong with it. Price at value and make sure you are presenting your rental in the best way. If you are listing it yourself with iPhone photos, that's not the best way.

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Alexander FelicePro Member
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
2y
these website are irrelevant because they won't pay you no matter what amounts they say
Call 3 property managers and get them to give you real world estimates
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