Before you market your rental property, you’ll need to know how much you can and should charge for rent. Charging too much can mean you’ll have trouble finding a good tenant. Charging too little can mean losing money on your investment property.
Knowing how to conduct a rental market analysis for your area will help you focus on a good rental price range.
Create Your Database
The first step is to use a spreadsheet, such as Excel, to create a database of comparable listings. You can ask a real estate agent for help, or you can get online and search the rental listings on sites like Zillow and Realtor.com. (more…)