After checking rental comps on Rentometer.com I've decided to stop using that service. Their data seems stagnant (at least for 3 of 5 of our properties.) I'm going to now instead use Zillow.com and Craigslist.com to check rental comps.
Here's the Zillow :
| Zestimate | |
| A | $1,500 |
| B | $1,400 |
| E | $1,675 |
Here is Craigslist :
| sample | median | 10% floor | |
| A : 3 bed house | 31 | $2,000 | $1,300 |
| B : 3 bed house | 59 | $1,450 | $900 |
| C : 1 bed apt | 87 | $620 | $525 |
| D: 1 bed apt | 171 | $700 | $495 |
| E : 3 bed house | 33 | $2,200 | $1,500 |
This is the first time I'm checking rental comp from these sources so theres no previous data to run comparisons on.
For Zillow I just check the Rent Zestimate figure for the single family homes.
Checking comps on Craigslist is much more involved. I have to pull up the housing search, center the property and search for the number of bedrooms. Then I also limit it to similar style properties (houses vs apartments) and designate if we do or don't take pets. Then I have to do a little trial and error to see where the median and bottom 10% rent levels fall. I look at the total number of properties for rent and then find the price level below which 50% and 10% of the listings fall. For example if there are 59 units then I try and find the price point where ~30 are above and blow for median and then about 6 units are below for the bottom 10%.
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