Market Conditions in 85015>Question Details

Carlos, Home Buyer in Phoenix, AZ

I'm going to rent my townhome; 4br, 2ba - where can I get comparable rental rates?

Asked by Carlos, Phoenix, AZ Thu Oct 16, 2008

Nice townhome community near 17th \cambell...close to light rail, freeway, Phx College, Biltmore, downtown....

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13
"i didn't answer your question at all, but feel fee to contact me!" "use an appraisor" ok joke time is over!!!

Ok here goes for free:
http://www.rentometer.com
http://www.craigslist.com (search similar number of rooms, with keyword = zip code or community name)
http://www.rentals.com/

I want to stress that in many years of renting (my own) properties I have never found a renter from the mls. I have found them from craigslist.com, and before craigslist, from ads in the arizona republic- which were expensive.
1 vote Thank Flag Link Thu Jan 15, 2009
Hi Carlos-

I'm a professional property manager. As part of the listing process I naturally do rental comparables. If you are interested in using a property manager to rent your townhouse, I'd be happy to help you with comparables.

FYI, although using an appraiser for such a thing would be effective, and potentially very comprehensive...it would also be very expensive. Typical appraisal fees are very close to the entire commission I charge to rent the home for a year, which INCLUDE my estimate of rental rates...and from someone that has successfully rented 40 homes this year alone.

FYI, the hassle with craigslist (and I wouldn't ignore craigslist), is that it's not a very location specific search. If there are listings in your townhome community, you will probably find them, but what about the next community over, or down the street, or around the corner. It's brutal (not impossible, but tedious) to use craigslist to find rental comparables for homes within a mile or two, which is part of what you want in the analysis. Also, you never know what it actually rented for, just what the asking price was.
1 vote Thank Flag Link Fri Oct 17, 2008
The first step is to obtain a rental cost market analysis from a real estate broker that specializes in property management. A cost market analysis will show you homes that have rental rented or are actively listed for rent in the area are around your home and that are similar to your home.

Have you found a qualified Realtor to help you with your rental home?
0 votes Thank Flag Link Thu Jan 1, 2015
Call or email me with your information and I'd be happy to look into it for you! I also offer property management if you're tired of the hassles being a Landlord.

James Wehner
West USA Realty
480-323-5462
Web Reference: http://www.jameswehner.com
0 votes Thank Flag Link Fri Oct 17, 2014
Were you able to get the help you needed?
0 votes Thank Flag Link Wed Oct 8, 2014
Dear Carlos,
Can't you just ask a local realtor?
Usually our estimates are free, no obligation.

btw, you mentioned that your property is close to a college~~ usually such neighborhood offers many properties for rent. Check local media. Good luck!
0 votes Thank Flag Link Sat Apr 21, 2012
Carlos,

A rental management company may be one source or an agent could let you know how many are available on mls in that area.

It sounds like you have a nice town home. You should be able to rent it if the rent isnt too high.

Feel free to contact me if you have any questions or would like any more assitance!

Lucinda 602-799-6846
0 votes Thank Flag Link Fri Oct 17, 2008
Steve brings up a good point - "although using an appraiser for such a thing would be effective, and potentially very comprehensive...it would also be very expensive. Typical appraisal fees are very close to the entire commission I charge to rent the home for a year" - however an appraiser would also include an itemized depreciation schedule and/or cost segregation survey of qualifying tangible personal property (in accordance to IRC §§ 168, 179, AND 1400L) for accelerated depreciation to increase the annual cash flow. The appraial fee would be one time and considerably less then the annual commissions over the average rental period of most residential rental properties, which is 5 - 7 years. Not to mention the cost approach to value (replacement/reconstruction) which could be used for insurance purposes.
0 votes Thank Flag Link Fri Oct 17, 2008
Have you tried craigslist.org yet ? It is free and it is amazing ... showing you all the 4br for rent in Phoenix area as you can click to see ... http://phoenix.craigslist.org/search/apa?query=&minAsk=m…

You can also call a local realtor to help you if you are not physically around. e.g. Melisa just told me that she has investor from FL coming to Edison NJ and she helped him to buy and rent out the condo at Starpoint at Piscataway http://starpointatpiscataway.blogspot.com/

On the other hand, the investor Michael also told me that he placed free ads from FL thru craigslist.org to help Melisa... It is a team work these days to reach the most cost effective result.
0 votes Thank Flag Link Fri Oct 17, 2008
I would recommend contacting an appraiser for an indepth market analysis which would include a rent schedule and operating income statement representing market conditions and acceptance for the market area of the property you plan on renting, which is a common service provided to investors/landlords.
0 votes Thank Flag Link Fri Oct 17, 2008
Hi Carlos,

From this address: http:findahouseaz.com you can search for rentals in a particular area (zip code) and see what comes up. If you would like more help or me to send you some comps I would be happy to.
Web Reference: http://findahouseaz.com
0 votes Thank Flag Link Fri Oct 17, 2008
Hi Carlos,

I would recommend having an agent give you a comparable market analysis. If you would send me the address I can do that for you.
Web Reference: http://www.TeamKearney.com
0 votes Thank Flag Link Fri Oct 17, 2008
I'd recommend going to craigslist.org and take a look at rental rates there.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Thu Oct 16, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
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