Another good way to get comparable rent is Craig’s List. Craig’s List has had problems in the past related to scammers and fraud. But when it comes to determining rental amounts, it’s pretty accurate. On this site, you would do a slightly different search. You should go to Craig’s List for your area, go to the “Apt / Houses” section and write your city. Or, if it is a development, you can type the name of the development. Then enter the number of bedrooms and / or bathrooms. At that time, many houses or apartments will appear in your rental search. Then you need to review them and see if any of them are similar and resemble your property to compare apples to apples.
Keep in mind that these are estimates and you will have to test the market to really know how much you can rent your property per month. We do not recommend that you try to “go high” and think that you can trade down. This rarely works in today’s environment. In general, if you overvalue your property in hopes of getting more rent, it will just be ignored and you won’t get traffic or potential tenants.
My best strategy is to use the resources above to get a rough estimate of your property’s rental price and then price it a little lower. This should attract a lot more fees and can result in a quick move rather than overpriced and the property sitting vacant for weeks or months.