Market Rent and Neighborhood Rating

1 Reply

Two Questions:

1. How do you truly determine "Market Rent". Is it just looking at comps in the area? Or is there a specific website that states the areas market rent?

2. How do you classify a property as an A, B or C? Likewise with the neighborhood?

Thanks!

For market rents I like to use a combination of calling local rental agencies, throwing the address on rentometer, zillow, and lastly......craigslist for the low end of the range.  The more data points you can gather the better.  I don't average these, but lean more towards the numbers I get from the agency and rentometer.