Posted by David on February 18, 2001 at 22:10:27:
Here in California, we can get a rent survey along with the property appraisal - check with a local appraiser for something similar.
If you have the time - and surely you have some idea as to the going rent - set the rent at the very high end of what you think is fair. See how many responses you get over a week or two, then lower the rent slightly. Repeat this process until you get enough interest in the property to tell you that you’ve set a rent at the “going rate” and that you’re not renting for less than the market will bear.