How much should I charge for rent?

Question

What platforms/sites do you use to price your rental property? Thank you.

Mohammed Rahman · Answer

Hey @Rolando DeLeon - I recommend staying away from the data aggregator sites like Rentometer because although they're helpful, most of the time they pull averages from specific regions and that might skew your accurate market rent.

What works well for me is just opening up Zillow and doing a quick search on what similar rentals are going for in my area. For example, if something looks a lot nicer than my unit but has the same # of bedrooms/bathrooms and amenities (washer, dryer, etc.) then I'll just charge a bit lower for it. You should be able to get a good sense after a few minutes of poking around.

Scott Trench · Answer

In addition to some of the great advice discussed here, you can also check out the rent estimation tool here on BiggerPockets (Hover over tools in the top navigation and look for the rent estimator!).

This tool is available only to pro members, so I've gone ahead and made you pro for one month, free of charge to check it out. (I think it would be bad manners to plug our tool, and not make it accessible to you to try!)

-Scott

Gustavo Francesconi · Answer

-Redfin estimation here

-Zillow estimation here

-Affordable Housing estimation here

-BP estimation here

Also, in case you have access to MLS use the filter " rented"

Of course nothing is 100%, but it definitely helps.

Bruce Woodruff · Answer

I go on every site I can find...CL, FB, Zillow, Refin, Etc and take an average of their info....

Michael Oliver · Answer

Rentometer

Nathan Gesner · Answer

I do my own analysis. Computer algorithms are useful for general knowledge, but they are not good at analyzing a specific property. Yes, they look accurate on the surface. When you dig in, they can be wildly inaccurate because there are variables they can never consider, like size of bedrooms, layout, view from the living room window, cranky neighbor with yappy dogs net door, etc.

Jewel B. · Answer

Rentometer, Apartments.com, Facebook Marketplace, Craigslist, Facebook groups for local rentals or investors. Do your best to make accurate and reasonable comparisons in terms of location, # of BR/BA, size, upgrade level, parking, and amenities and adjust accordingly.

Alex Larcheveque · Answer

Rentometer. Make sure you compare with comps that are most like your property, pro reports provide good insight.

Eliott Elias · Answer

Comparables on the MLS

How much should I charge for rent?

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