Rotonda West, FL · Member since 2015 · 59 posts · 8 votes
Hi everyone. I'm close to putting up my condo for lease, but I'm having trouble finding comparable rental amounts for units already rented in the condo complex I'm part of. Is there a resource I can use to find how much people are paying for rentals in the complex? The problem is, I can get to open listing online with sites like Zillow, but once the condos are listed, they're removed. So I'm looking for something more historical. I need this information so I can properly price my lease. Please let me know what you think.
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
10y
You're too hung up on finding units in your complex. A tenant most likely isn't specifically seeking that complex; a tenant is usually looking for a house or an apartment, and in some area or neighborhood. Say you have a two bedroom apartment - a tenant looking for two bedrooms would be interested if the neighborhood and price match the tenant's expectations; if the price is too high, you won't get many looking at it. So find rent amounts that are appropriate for your neighborhood.
Rotonda West, FL · Member since 2015 · 59 posts · 8 votes
10y
Tried both. I am getting a general estimate on rentometer, and on realtor, I didn't find any rentals in my complex. Would this kind of historical information be something only a real estate professional with access to MLS would have? I wish there was some historical database I could access, I wouldn't mind paying a small fee for that either.
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
10y
a realtor would be able to access rental history in your complex Do you have small rural complex craigslist might help square footage bedrooms and surrounding area should give you good estimates What do you feel you are missing Call a realtor and ask about renting your place
Rotonda West, FL · Member since 2015 · 59 posts · 8 votes
10y
Well, it's a pretty big complex, but looks like tenants are pretty stable and not much turn-over, otherwise I'd imagine I'd see more ads for it. Regarding the realtor, do they have access to this "historical" data which is otherwise restricted from someone like me without a real estate license/MLS? Problem with calling the realtor is he'll want to find a tenant for me, which I don't want since I want to do it myself..and I don't think he'll be happy if I get the info from him and that's it, he'll feel like I wasted his time and just used him for the info (or at least that's how I'd feel - maybe I'm wrong).
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
10y
You're too hung up on finding units in your complex. A tenant most likely isn't specifically seeking that complex; a tenant is usually looking for a house or an apartment, and in some area or neighborhood. Say you have a two bedroom apartment - a tenant looking for two bedrooms would be interested if the neighborhood and price match the tenant's expectations; if the price is too high, you won't get many looking at it. So find rent amounts that are appropriate for your neighborhood.