Tools to estimate rental price

[Michael Lee]

Hey BP members,

I just finished purchasing a house and want to rent it out. I'm wondering what tools I could use to estimate rental price and then I can set up a good rent price. Thanks in advance! 

[Andrew Kroupa]

According to David Greene, Rentometer.com is a good choice. First few uses are free.

Next, He recommends local property managers, as they'd know best.

Then, comps on craigslist

Also, Zillow/Trulia/Redfin give reasonable ballpark rental values.

And finally, if you know the area you might have a good idea already! Put a good number out and see if it gets replies. You don't have to accept the first respondents, but vacancy time adds up.