How do you determine the rental rate?

We use 3 methods together:

#1 - We pull the last 90 days of all rentals within a 1 mile radius of the property to see what has ACTUALLY leased (none of that false Zillow stuff)

#2- We pull the Rentometer report which pulls multi-family (apartments) within a 1 mile radius

#3- Lastly, we pull our expansive knowledge of the market as "boots on the ground" to determine the best purchase price

Things we think about:

• What months are we in? Holidays are slower, Spring/Summer is more aggressive
• Is it tax season? More people move in March because of the influx of "extra" funds, we sometimes we can be more aggressive
• What is the owners goals? Do they need to lease ASAP? Do they want to be more patient and more aggressive on the rental rate?
• Is the owner adding anything with the rent? (Internet, pest control, lawn care, weed control)
• What does our GUT tell us as seasoned real estate professionals?