Posted by Doug (ON) on October 15, 2001 at 15:05:53:
Usually you can find at least a few properties to compare to in the paper. You can also call realtors and ask them.
If all else fails, charge whatever you need to make a decent profit, assuming you can find a buyer who will pay it.
Doug
Comparable Rents for L/Os??? - Posted by Harmony
Posted by Harmony on October 15, 2001 at 14:08:58:
Anyone know where I can find what the average rents are in a given area? My intent is to do L/Os on townhouses and single family homes (in the DC-VA/MD suburbs, in particular). However, I ask this thinking most $200K+ residential properties are bought, not rented. If I acquire a property “subject to” how do I know what to charge for rent?
Thanks in advance…MUCH love and appreciation to the CREonline community!!!
Harmony
Re: Comparable Rents for L/Os??? - Posted by jvc
Posted by jvc on October 16, 2001 at 15:13:35:
What I do is call a property management company, tell them you are considering buying a rental house in the area and are trying to get an idea of how much it would rent for. They’ll ask the particulars about the house and give you a pretty good idea of the rental market.
Re: Comparable Rents for L/Os??? - Posted by Tim Fierro (WA)
Posted by Tim Fierro (WA) on October 16, 2001 at 03:36:15:
You can check the national magazine called something like For Rent magazine. This will show what apartments are going for. At least you have some starting point.
Then for your house, I would think the papers in your area would be the best bet. I would buy the papers now and each Sunday as a minimum so you will know when the time comes. Learn your market so you will be prepared.