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I am sorry to post something that I think has been posted here before. I believe I saw a thread somewhere that told where the best place was to find fmr (fair market rent for the newbies).

 

Would you be so kind as to post a link or tell me where you get that info?

 

Thanks!

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You can google rent comparables, or RentoMeter, Zillow, Zilpy but I don't think they are around now. Knowing the market too, but it is propbaly a liitle more difficult for out of town deals.

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I don't know about a link here, so I can't post one for you. As for the online sources that Steve mentioned, I haven't been too thrilled with their accuracy. Start with the local papers and online ads. From there you can try and pick the brains of a local rental agent and/or a property management company. Tell them you have a house you are considering renting and they will open up about what they can do for you. Eventually you'll get a figure out of them.

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When I started this I didn't know rents here either. At some point I thought about renting out my house and called a few property management types. I found quite a few talkers who were willing to share what they know.

 

I have a pretty standard type house so it gave me a good idea of what other similar houses would go for. That and I read through many CL ads a day. After talking to people, reading ads, calling for rent signs you might drive by, I think you can get a good idea what is reasonable, what is low, and what is wishful thinking in your region and the surrounding cities/areas.

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You can go to a few websites and start to get a feel for rent rates.

Here is what I would do..

Go to rentals.com rentalhouses.com zillow.com etc. and look for houses for rent in your target area.

Then, see what houses are selling for in that area based on sf.

So, if you see houses that are selling on average for say...$100 sf, so a 2k sf home would list for about $200k. Then you see rentals going for $1400-$1500 a month, you have a good idea of the rent rates based on the home values.

I focus more on what the payments will be at the time of finance then rent rates.

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