General Landlording & Rental Properties

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Noah Carrico
  • New to Real Estate
  • Rexburg, ID
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Investing and renting in rural communities and small towns

Noah Carrico
  • New to Real Estate
  • Rexburg, ID
Posted Aug 15 2022, 14:52

I live in a small farming town about an hour from the regional city. I have noticed that online tools are consistently inaccurate for my area, if they have any data at all. For many properties there are few comps and the few local landlords I have asked are reluctant to share their numbers (understandably). For those who invest in places off the beaten path, where do you get your numbers for things like rent estimates?

Idaho Falls, Idaho

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Replied Aug 15 2022, 14:55

Hey Noah, I would recommend reaching out to a local property management company to get an idea of how much your property could rent for and the services they offer. Local property managers are much more accurate than any online software.

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Erin Dreher
  • Property Manager
  • Little Rock, AR
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Erin Dreher
  • Property Manager
  • Little Rock, AR
Replied Aug 15 2022, 15:43

I ask around the neighborhood. If I can catch someone outside I ask how much other houses that rent for so I can get a gauge for what I should put a house on the market. Talk to the locals... they will likely know the going rates. 

Real Estate Agent Arkansas (#SA00087879)

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Bob Willis
  • Investor
  • Curtis, NE
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90
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Bob Willis
  • Investor
  • Curtis, NE
Replied Aug 15 2022, 16:00

Talk to members of the local chamber, talk to the economic development corp, etc... I find it a little strange the other landlords are hesitant to share, is the rental market soft? I have rentals in rural area and the other landlords I know in town talk freely about occupancy, rents, etc. Good luck.

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Michele Fischer
  • Rental Property Investor
  • Seattle, WA
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Michele Fischer
  • Rental Property Investor
  • Seattle, WA
Replied Aug 15 2022, 18:01

Start watching for ads on Craigslist and other places as well.  I was able to keep track of addresses in my target neighborhood and what they were advertised for to get a sense for the market.  Over time it started to show how long tenancies were as well.