How to get the best rent?

6 Replies

I wonder how can get the best rental estimate for my units? 

Will Zillow rental estimate an accurate guide to price my rental request?

I had experience in getting high rents on some units pretty fast after they were listed while some have to reduce rents to get them rented.

Thank you.

no it is not a reliable source for rents.  Zillow and turlia determine price by mass appraisal so it is a broad range that it covers.  My go to is, I search weekly to see what  places are going for, similar to my unit and how long it stays on the market.

Are your units in different areas or all in the same building? How long do you let them sit before dropping the price?

Have the best product then you will get the best rent.

Every area is different but in my area the best rent calculators don't work. The best way to figure out rent is to check the listing and get to know what is being listed. I check the areas I operate in often even when I don't have a rental. This allows me to get to know the area.

Zillow and trulia can be usable for some neighborhoods but not all. I use craigslist a lot. That usually gets you going pretty accurately. Like the Olympics, I will ignore the highest asking prices and the lowest asking prices, and take off 100 from the average asking price as a safety buffer. Good luck.

Drive around the neighborhood and call the places that have a for rent sign in the yard.  Combine that with Craigslist, rentometer and local property manager sites that advertise rentals in your market.

In my market most owners don't allow pets.  I do for a fee which normally helps me achieve decent rental prices compared to non pet friendly places.

Have a realtor pull comps for you over the last 12 months. That's the best way as its based on actuals. 

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