Posted by Lori Samson on June 02, 2000 at 23:52:55:
You can do the best thing out there… go view about 20 different rentals in the area you are targeting and after you finish you will really have a feel of the rental market. There is no one true way. Experience will give you the best information. Seeing what properties have really high rents and seeing how long they have been for rent or if you get to one too late and it’s rented, find out how long it was for rent. If you are willing to have a property sit too long you can go with the highest or if you want something to move you will learn what price will move it best. Find out for yourself and you shouldn’t ever have to do it again because you will be actively renting and will have the experience behind you to know your market and what worked for you. You can also ask around in the area you are interested in. I have asked a neighbor if they knew if there were any rentals in the area that they knew about. It seems that they will always know the one house that they “can’t believe they are getting that much rent for that house!” lori