Where can I find the best resources on rental prices for my area? I don't want to rely on assumed rental prices currently listed (IE: zillow, realtor.com) if they're not true to the market.
Depends on the type of property you are looking at. I have used apartments.com as well as rentals.com. I have also used Craig's list, they have a decent number of rentals. I would start here.
I find the following helpful:
3. Zillow Rentals App
4. Property manager
I also use rentometer.com. Call any local brokers in the market and ask them their opinion. We have a local paper called the Pennysaver that lists apartments for rent. Also look at the classified section of newspapers.
perfect. All those posts were very helpful.
I was not aware of such sites as rentometer... then again, I usually default to doing web searches before starting a new thread on BP.
Thank you for your input!
@Christopher DeLucien I also drive the area and call on signs in yards for houses for rent. It's not an exact science at all. Where we live, it is almost seasonal. I have plenty of interest in our properties in the middle of summer but things slow down after school starts. That's the only time I have ever dropped rent to get a house filled. We now try to make everything expire in summer!
Rentometer is not that accurate IMO. Realtor.com has rental properties posted by realtors and pm companies...they are often a tad aggressive in pricing but are the most accurate. Here rents are negotiable but the market is hot so it is probably rare...overpriced may sit for a month and then usually get marked down and rent out. Zillow feeds off realtor.com in my market.