How do you price your rentals?

Question

Hi All,

My wife and I just bought an additional house and we are starting our journey as landlords. We will be rent out our current house which is located in northern Bellevue, Nebraska. I'm interested in finding out what method people use to appropriately price their rentals.

I'm looking on other sites to see what they go for in my area but there aren't any open rentals currently (But I know there is a lot of people renting in my neighborhood..). Any insight as to how you find rental comps specifically for your area would be greatly appreciated.

House is 2bd 1bth 1100+/- square feet.

Thanks!

Account Closed · Answer

you could also ask a realtor if you know one..to send you comps of rentals in your neighborhood and see what they listed for and what they rented (last six months) .theyll usually send with pics so you can compare the units

Jarrod B. · Answer

Nothing beats the MLS.  Make friends with a local realtor and get on there to see your comps and what's offered...I've found Zillow to be mehhhh....rentometer was too high in my observations.

Jaysen Medhurst · Answer

@Clyde Stackhouse, I usually start with Craigslist and Trulia to see what the rentals are like. Rentometer is the next step. Some of their stuff is free, then you have to pay. Not too much, I don't think. That site is geared towards landlords, so a great resource.

Clyde Stackhouse · Answer

@Jaysen Medhurst Gotcha! Yeah, I have a rough idea my problem is since there aren't any vacant rentals in my area (even though there are a lot of rentals in the area) I'm trying to figure out if I can push the rental price up a bit.  Thanks for the resources!

How do you price your rentals?

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