Posted by David Krulac on May 25, 2005 at 18:02:22:
the gov’s figures are supposed to be AVERAGE figures. they may or may not be accurate. where I’m at most the the properties rent for much more than the section 8 rents, which are the table you looked at. Section 8 properties tend to be low to middle and don’t include luxury places, places with a bunch of anemities, and do include trailer rentals. So the middle to top end of the market is not included in the figures and computation and therfore the figures tend to the low side.
I’ve participated in the section 8 rent surveys and they are surprised and sometimes shocked at my rents. In one case I was getting 300% of what they thought rents were.
And if you like their rent levels, then you should consider renting section 8. There’s always a demand for nice section 8 units.
Posted by flyingelvis on May 23, 2005 at 16:42:07:
Hi all,
I have researched this in the archives and have not found anything. I was wondering if there is a way to accurately measure rents in a particular market. I’ve heard that checking the local classifieds is not always accurate. Is there a website or something that does research of this kind?
Posted by David Krulac on May 23, 2005 at 17:30:05:
some multi-list service track rentals as well as sales, but many do not.
I follow ads in the newspaper, I get 3 different papers, and occasionally will call on an ad; particularily if the price is not in the as or it looks similar to something I’m renting currently. Complexes often have their prices in their ads. I’ll ask people, what’s your rent? After a while its pretty easy to knwo what rents are in a certain area and which amenities close the deal.
Re: 2005 FAIR MARKET RENTS - Posted by flyingelvis
Posted by flyingelvis on May 25, 2005 at 10:14:14:
Randy,
Thanks for the info. It appears that the rent I’m planning to charge is right inline with what the government thinks I should charge. Now, I don’t know if that should ease my mind or make me worry! In any case, thanks.
Posted by flyingelvis on May 23, 2005 at 18:27:36:
It sounds like proper pricing will come with experience. My Realtor has given me some info on the rentals for the complex I’m looking at and it seems to line up with whats in the classifieds. Thanks for the info.