How to Conduct a Rental Market Analysis
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…)