FIND THE FAIR MARKET RENT RATE FOR YOUR RENTAL PROPERTIES
There are a few ways find information about rent prices in your area for properties similar to yours.
It sounds simple but a quick search on the internet is a fast way to give you a baseline for rent prices in your market. Property portals like 99acres,magic bricks,India properties,housing.com etc are also places to find this information online. You can set search parameters by neighborhood and number of bedrooms to start, and then narrow in on other specific property features that could affect the rent price.
Drive around the neighborhood and look for “For Rent” signs posted on available properties. These will give you ideas about property features and rent prices, while also providing insight to the appeal for the property and how it compares to yours.
The local news paper is another option to find rental property prices in your region. While rental listings in local news papers are less common than online sources, they are still used by a wide range of landlords looking to market vacancies and find new tenants.
GO TO THE PROFESSIONALS
Another way to find market rent data is to ask industry professional like builders in the vicinity other landlords and property managers. Your peers are an invaluable resource and most want to network with people from similar backgrounds just like you.