Determining Single-family Rent Rates In A New Market
I am looking to enter the Atlanta single-family market in the next few months and working to build my knowledge base for the areas where I'd like to focus. I have found plenty of information on the apartment scene but very little, aside from scouring the newspaper, on single-family rent rates. Two questions:
1. For any of you in the Atlanta area, is there a specific resource you use for this info?
2. For those outside Atlanta, do you have any advice for determining this crucial info when moving into a new market?
Thanks!
Adam
My favorite approach is to identify a potential property, then call a couple of professional property management companies.
Ask the property manager how much rent they would expect to get for your property should you decide to purchase it and place it in their management program.
Although you said that you persued the newspaper avenue this can be a relatively effective one. The rent amount also is depedent on your cash flow of course. If you have a large cash flow then you have more room to adjust.