Rent schedule information for houses

[Donna Quixote]

I have an order for a house that is being used as rental property and client wants the rent analysis. It is easy to get rental information for duplex properties off MLS, but where do some of you go for house rental information?

Thanks

 

[ACAHA]

Our MLS will usually have some limited information on single family rentals, depending on what market you are searching in. I usually go right for the people doing the rentals, local brokers, management companies (occasionally) and homeowners listings on the internet/in the papers. How did the owner market the property? That may help as well.

 

[Kevin A. Spellman]

Ask a US postal delivery person. They know who rents and who owns. Does your MLS allow the user to ask for key word "tenant"? Can you review archive offering for single family rental offerings in a local newspaper? The mailing address of the real estate tax bill or a water bill to another address could lead to a rental.

 

[CANative]

Call or visit a property management company. They should have loads of rental comps. You might need to call a few. Have you appraised any properties that were tenant occupied? those would be good comps.

 

[Donna Quixote]

Thanks for this info so far, I really appreicate it. Greg, great idea on the management companies. I have found two houses for rent on Craig's list so far and one owner has been willing to talk to me. This is the first request in 7 years for rental info on a single family. Guess with the way people are renting until the market turns around this is going to happen to us more often.

 

[Esox]

Donna, use the private/public remarks section in the MLS. You'll have to do two separate searches as you can't do the two together. Type in words like rent, tenant, lease, etc. Enter all the words like this:

*tenant*,*rent*,*lease*

That way it will search for each word. Do it for actives, solds, and pendings. Then you call the agents and see what they rent for, when the leases expire, etc.

By the way, I do the same thing with REO, Foreclosure, Bank, proof, etc. for each appraisal. Gives you an idea of what percentage of foreclosures are currently listed or sold in MLS.

Kevin

 

[CANative]

IMO, you can't get away with simply snagging rental data from MLS, craigslist or just finding some similar rented properties here and there.

You need to interview owners/staff from at least a few property management companies or brokerages that manage rental properties because you need to get a handle on rental market data and anylize for trends (soft market, hot market, lots of vacancies due to oversupply caused by foreclosure activity, etc, etc.).

It's not just about "rental comps."

 

[EDWARD BERRY]

HUD Used To Have Some-check Your Local Hoc.

 

[VegasWayne]

The MLS here has a separate search section for rentals so the information is easily found for Las Vegas. I had to do a rental in Laughlin, NV and no rentals were listed in the MLS. I went to two real estate offices and found they had plenty of comparables that they could supply. They weren't listed because they didn't want to pay the fees to join the Las Vegas MLS..

 

[Calvin the Airedale]

Try searching on www.Zilpy.com this site was constructed by the Zillow people for rental data.