Best way to identify Rent prices?

[Bryan McElrath]

I’m currently looking at a duplex in the Claremore area. It looks like a great property, but I’m having trouble identifying possible rents from both sides. What is the best way to do this? There’s no properties available for rent in the area so I can’t use them as comparisons.

[Joe Scaparra]

@Bryan McElrath, please utilize your profile page and give us some insight about you.  Where you live, what are your goals, experience ect.  I have no clue, where is Claremore?  Tell me about the duplex, bedrooms, baths, carport or garage or neither.  Private yard?   Go to zillow.com, put in the address and then go to the subdivision page and start clicking on duplexes around the one you are interested in.  Go to property history and see what they have been renting for and some may still have the photos and description of the property when it was listed.  That will start to give you an idea.  But don't stop there.  Look at the pictures and determine how your's compare.  Since I have no friggen idea where Claremore is I can't get an idea  on rental trends.  I live in Austin and the rental trend is up big time.  If you are not desperate, figure out what the rent should be and ADD $100 if the trend line is up!  Give it a week and see what the response is.  Be a trend setter not a follower if you are not hurting on cash flow.   

For example, I just bought a duplex renting for 1000 a side.  One tenant is month to month and he has given notice to move.  We advertised 1500 and are getting unbelievable interest.  Many individual landlords have owned their property so long they have not kept up with rents.  So don't let the laggers set your rent.  Cheers!