Finding True Rental Rates
How can i find the true rental rates for an area. Someone suggested i pretend i am looking for an appartment and see what the realtor shows me. I dont think it is fair to use a realtor like that. I would not want anyone to do that to me. If i look at adds that is showing what landlords are hoping to get not what they actually settle for.
thanks in advance to all who respond
Hello
Try reading the local newpaper for rent
on places. Most people in the newpaper put how much the rent is.
the so called "true rental rates" would be the market rate. the best way that i know of determining rental rates is, as suggested already, to look in your newspaper. alternatively you can ask some of the tenants in the area what they are paying for rent. i do it all the time.
If you develop an ongoing relationship w/ a realtor, that person can use the MLS to run recent rentals that list asking vs. actual lease rates.
Otherwise, just be straightforward and call some of the property management companies that service your area of interest, and ask them straight-out. They should be interested in being helpful to you so that you would consider them for managing your properties.
Simon