Posted by RobH (MI) on March 05, 2001 at 21:37:17:
Try the Property Management companies in your area.
Also a local Real Estate office should have some of this data in their computers.
RobH (MI)
Rental rate research on single-family homes - Posted by Ryan
Posted by Ryan on March 05, 2001 at 21:24:40:
I’m looking for some help on researching the current rates of rent on single-family homes in my area, as well as rent histories, vacancies, average operating expenses, etc. I have found information on multi-family buildings quite easily but can’t find anything on homes. Any suggestions on where to look? Any help would be appreciated.
Re: Rental rate research on single-family homes - Posted by eric-fl
Posted by eric-fl on March 06, 2001 at 10:19:33:
The newspaper. Just see what other similar properties and areas are renting for. They are normally very close in price. If there are some people trying to rent too high, they will be forced down by the market. Think about it. Renters know what the fair market value of a rental is. How do they know? They go out and shop around. They look at apartments, houses, compare amenities, see what they can get for what price. At least, that’s what I did when I was a renter. And they typically don’t negotiate. It doesn’t occur to most renters to propose a lower price - if it’s too much money, they just look somewhere else. At least, that’s what I did when I was a renter. You could also run an ad, without an address, and gauge your response accordingly. The lower the price, the greater the response, in any market. This is the most accurate way to gauge supply and demand; provide some supply, and see what demand is.