rental comps...

biscuitninja said:
pssh.. no help?!!?!
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No website unfortunately. MLS is a good source, but the best would come from an appraisal of an apartment complex. You can use asking rents on www.realtor.com and alike to get an idea of where rents are as most of the rental prices are close to the asking pricing.
 
awsome! I think I may have stumbled upon some apartments that are about to go into foreclosure.... I'm trying to find what the comps in the area are...

-bix
 
biscuitninja said:
awsome! I think I may have stumbled upon some apartments that are about to go into foreclosure.... I'm trying to find what the comps in the area are...

-bix
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No problemo, but remember to discount any potential offer for renovation/deferred maintenace. Apartments that go back to the lender are usually not maintained very well so an inspection would be PRICELESS! Remember to adjust the rents for location, amenities, and size of the units.
 
Unfortunately, there's no easy answer. Finding a deal on a rental (especially a condo) is like selling vacuum cleaners; you make calls, pound the pavement. I've found that the kinds of prices I can negotiate in person sometimes have little to do with the initial price wherever you first find the listing. If you really want to know what a fair price is you can personally visit a few places that are similar and fit your criteria and see what kind of deals you can cut.
 
bigmoneysalsa said:
Unfortunately, there's no easy answer. Finding a deal on a rental (especially a condo) is like selling vacuum cleaners; you make calls, pound the pavement. I've found that the kinds of prices I can negotiate in person sometimes have little to do with the initial price wherever you first find the listing. If you really want to know what a fair price is you can personally visit a few places that are similar and fit your criteria and see what kind of deals you can cut.
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I completely know the feeling.... I'm just trying to find some data on some towns right around the corner. We see what happens.

-bix
 
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