Assessing Market Rents

2 Replies

I'm in the process analyzing potential deals, and lately I've been looking a quadplex properties in California. As you all can can probably guess, assessing appropriate market rent is a key part of my analysis. Finding the appropriate market rent has been a little challenging, though.

What tools do you all use to assess market rents? I've used RentCafe, but I don't know how accurate the rents can be on there. I know the best way to find out is to talk to probably chat with local agent and/or a property management company in the area, but I was wondering if there are any good websites or online tools that are accurate. Thanks in advance!

@Andy S. is a fantastic tool that has thus far proven to be quite accurate at giving market rents. Probably the best way though is to connect with a local (to that market) property manager as they can give you current market rents, demand and much more to help you make these determinations.

@Scott Passman Thank you! Rentometer looks fantastic thus far; I've been playing with it for the last couple of hours. Seems pretty accurate and is probably as accurate as you can get on the web without talking to a real-life professional.