Updated almost 5 years ago on . Most recent reply
Determining how much your rental property should rent for?
I’m looking to buy a rental property in the near future and was wondering how I could determine what to rent my place for?
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You need to run comps just as if you were flipping a property. Use multiple sources, compare numbers of bedrooms, baths, finishes, neighborhoods, schools, square feet, similar style homes, etc. Use sources like rentometer, Zillow, Trulia, Hot Pads, Apartments.com, MLS etc to calculate your market rent. In real estate everything is market driven. Be realistic about your rent and try to be objective when you look at your property compared to your competition.