BiggerPockets | How to Find Rental Comps for Your Investment Property @biggerpockets | Uploaded June 2024 | Updated October 2024, 14 hours ago.
RentRedi is property management software that enables landlords to collect rent, screen tenants, manage maintenance, list vacancies, and sign leases. Get the most out of your real estate business with RentRedi:
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Rookie Reply: How Do I Find Rental Comps for My Property?
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Want to know how to find rental comps for your first or next investment property? Wondering, “How much rent can I charge?” Thankfully, it’s not as hard as many people think to find rental comparables and figure out the perfect rent price. But you need to make sure you don’t make some common rookie mistakes. Going too high on your rent may leave you with an empty unit, while going too low could attract the wrong tenant. Ashley Kehr from the “Real Estate Rookie” podcast is walking through exactly how she finds rent comps.
First things first, don’t let your Uncle tell you what to charge for rent. You can quickly find how much you should be charging by looking up other properties for rent and ONLY comparing the ones similar in size, amenities, utilities, and finishes to your own property. The closer you can make the comparison, the more accurate your rental price will be. Once you’ve figured out your rent price, it’s time to find tenants. We’ll show you the easiest way to do this, too!
00:00 How to Find Rental Comps
00:33 Sponsor: RentRedi!
01:27 Research Your OWN Comps
02:04 ONLY Compare Similar Properties
03:06 Account for Utilities
04:27 Consider the Finishes
05:16 Research the Maximum Rent
06:08 Know Your Location's Pros/Cons
06:37 No Comps in Your Area?
08:24 How to Find Tenants EASILY
11:12 Connect with Ashley!
RentRedi is property management software that enables landlords to collect rent, screen tenants, manage maintenance, list vacancies, and sign leases. Get the most out of your real estate business with RentRedi:
rentredi.com/biggerpockets?utm_source=biggerpockets&utm_medium=Youtube&utm_campaign=sp_miniseries
Join BiggerPockets for FREE 👇
biggerpockets.com/signup?utm_source=owned_media
Grab Ashley’s Book, “Real Estate Rookie”:
store.biggerpockets.com/products/real-estate-rookie?utm_source=youtube&utm_medium=description&utm_campaign=none
Property Manager Finder:
biggerpockets.com/findapm
See Ashley at BPCON2024 in Cancun!
biggerpockets.com/events?utm_source=youtube&utm_medium=description&utm_campaign=none
Rookie Reply: How Do I Find Rental Comps for My Property?
biggerpockets.com/blog/rookie-podcast-138?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Ashley:
biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Want to know how to find rental comps for your first or next investment property? Wondering, “How much rent can I charge?” Thankfully, it’s not as hard as many people think to find rental comparables and figure out the perfect rent price. But you need to make sure you don’t make some common rookie mistakes. Going too high on your rent may leave you with an empty unit, while going too low could attract the wrong tenant. Ashley Kehr from the “Real Estate Rookie” podcast is walking through exactly how she finds rent comps.
First things first, don’t let your Uncle tell you what to charge for rent. You can quickly find how much you should be charging by looking up other properties for rent and ONLY comparing the ones similar in size, amenities, utilities, and finishes to your own property. The closer you can make the comparison, the more accurate your rental price will be. Once you’ve figured out your rent price, it’s time to find tenants. We’ll show you the easiest way to do this, too!
00:00 How to Find Rental Comps
00:33 Sponsor: RentRedi!
01:27 Research Your OWN Comps
02:04 ONLY Compare Similar Properties
03:06 Account for Utilities
04:27 Consider the Finishes
05:16 Research the Maximum Rent
06:08 Know Your Location's Pros/Cons
06:37 No Comps in Your Area?
08:24 How to Find Tenants EASILY
11:12 Connect with Ashley!
