No Rental Comps?

[Elliott]

Will,
Do your best....find some rentals. I've agonized over my
rental data, but y'know, never has an underwriter called me
on the quality of the comparables. The rental/O-I requirement
is a dinosaur requirement to discourage rental financing.
I've actually used "vacation" rentals that rent for weekends
or a week, and converted them to a "monthly rental equivalent".

elliott

 

[jeff samolinski]

Are there any restrictions on rentals in the pud docs? If restrictions essentially make it too difficult to rent or eliminate a market at all for the subject to be rented then you have no basis to even use comps from other similar projects.

 

[J in Florida]

Do a google search for property management companies in your city, you might find some websites that way.

 

[Walter Kirk]

Are there any rental registration or rent control laws in the area? If so you can check for comparables in the public record. Does the PUD require notification of tenant occupied units? Many times the PUD management can be helpful in locating comps.

 

[George W Dodd]

Will,

Try searching public records for absentee homeowners. Public records in my area provide the name and address of the owner, then it's just a maner of tracking them down and asking.