Tips for finding average market rent

rent

Are you planning on investing in new rental properties across the Central Valley? If so, like any investor, you may be wondering what are the best ways to find average rent is in the area?

Thankfully, there are a wide variety of ways to find the average rent for any area including one of these methods.

How To Find The Average Market Rent

  1. Read your local newspapers. As you read through the classified adds, make sure you are comparing apples to apples.  Homes with swimming pools and 4 bedrooms is not the same as a one bedroom studio.
  2. Consult your Realtor.  Hopefully your real estate team has working knowledge of rentals and can utilize the MLS to help narrow down the rental price range.  Be sure and ask for documentation of their comparable.  Use your advisors to help gather information and to give you feedback, do not rely on them to make your decisions.
  3. Go online.  Most metro areas now have online classifieds like craigslist.  This along with other sites can give you great information.  Go google…
  4. Go drive around.  As I drive to and from work I notice a number of rental signs.  If you have a location or area targeted, or you just bought a rental, beat the street.  You can learn a lot just by calling your competition.

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