Tip #132: Ready, Set… Rent!
Setting the right rent–preferably the first time around, is crucial to keeping rental properties profitable.
Online real estate marketplace Zillow has launched “Rent Zestimates,” a one-of-a-kind tool that can be used as a starting point for determining a home or apartment’s estimated monthly rent price.
Tenants and landlords alike can research estimated rent prices for more than 90 million homes and apartments across the country.
The tool can be especially helpful for “accidental landlords,” who don’t have a starting point to determine market rent. Zestimates allows landlords to compare their properties to others on the market to determine a realistic rental price.
Rent Zestimates offer a unique data point for landlords. Information includes a range for monthly rent, the rental price per square foot, and a 30-day change barometer.
See last week’s Landlord Quick Tip.
American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.