Before we rent out any of our units, we do research to figure out what market rent is for the property. Generally we look for comparable units within a few blocks of our unit by using:
Craigslist, hands down, has the most listings in it for comparison purposes but it’s a pain to find properties that are nearby the one we’re renting out. NOW – I’ve found this handy little tool that mashes craigslist with google maps. It’s called HousingMaps and I bet renters will like it even more than landlords doing rental rate comparisons.
**Note: If you want to learn more about what to do to rent out a unit, see our latest edition of Rev N You with Real Estate. It should be on our website by the end of the week, or you could sign up for our newsletter and have it delivered straight to your inbox**