October 19, 2016

Using Zillow to Measure Rental Demand

Our local rental market is pretty hot right now.   But I wouldn't necessarily realize that if I didn't list a property for rent and then get a flood of applicants.    I've found one way you can get a measure of the kind of rental demand you might see for a property using a figure Zillow estimates.   The figure is called the 'rental views' and is their estimate of the number of people who will view a rental ad for the property in question.   Here is how to find their 'rental views':

1. Log into Zillow.  If you don't have an account you'll need to make one.
2. Find your property and claim it as yours if you haven't already.
3. Then when you open the property you'll get the 'Owners view' initially by default rather than the standard 'Public view'
5. If you scroll down on the owners view there is a bit with some info on selling your home.   There you will find forecasts on the number of views of the home that Zillow expects you'd get if you listed it for sale or put it up for rent.    It looks like this :

That number in the middle there 220 is the number we're looking for.

Not all properties have this number and I'm not entirely sure why some do and some don't.    I have another property that has a 'rental views' estimate over 1000.    Thats the hottest market I've got a rental in and when I list that property for rent I have to screen dozens and dozens of people.      The rental with 220 is still pretty good demand market but not nearly as hot.


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