I'm new to rental property management and I'm having trouble putting the right price on my duplex in the Blossom Hill valley in the Bay Area.. Due to the lack of duplexes, it is very difficult to find comps within reasonable time. Just like others, i do not want to loose profits but i definitely don't want to charge too high risking vacancy. Duplex sits between townhouses and SFH. It has private backyard, garage and privacy but lack amenities covered by townhouses. Please advise.
There are a lot of ways i use to find the market rent for my properties
1. Check the zillow zestament for rent and see what it says for the property
2. Check rentometer.com for the rent
3. Look at things for rent in the area around the property on zillow/realtor and find what similar prperties are listed for. i.e. if yours is a duplex and each side is 2 bed 1 bath and you see that single family homes that are 2 bed and 1 bath are renting for $1000/month you know yours will rent for slightly less.
4. Call agents act as a perspective tenant moving to the area ask "what is the rent on a 3 bed 2 bath house?"
5. I always watch the properties that have the same floor plan in my neighbor hood and when they rent and for how much to know what my floorplan is going for.
There are many other ways but i tend to find if you cross reference 2 or 3 of the above and are getting around the same number that is going to be the market rent.
Hope this helps,
@Ken Nguyen . Are you sure you posted in the right forum?
supper sorry. The site keep selecting carolina even though i chose california.
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