Rental Comparables

[Chris Yates]

Does anyone know of a better way to get rental comparables other than using MLS? I am doing alot of work in the City and there seems to be 0 rentals that are posted on MLS.

Any ideas would be helpful or if you have a database that you have built up I will compensate.

Thank You in advance.
Chris

 

[ccooper]

rental comps

You need to become familiar with the local realty companies that handle residential property management. Phone book, google or just some old fashioned cold calling to find these companies. When you find them you will always know in the future where to check back every time you need rent comps.

Also, how about your own filing cabinets. Have any of your subjects in the past been rentals? Can't remember? Look in your appraisal software to check when the last time you needed a rental comp form with the URAR. Those are probablly rentals.

 

[Chris Yates]

The problem is I am working with a private investor and most of the properties I need rent schedules on are single family homes. I don't have any problem finding rental comps on multi.
Do you have any realty companies or management companies that you have obtained information from in the past that are good to work with?

Thanks for your response.

 

[Chris Yates]

Unfortunately they need to be in the City of St. Louis also.

 

[danwilson]

Rental

http://socialserve.com/tenant/MO/index.html

This link can be of help

Dan Wilson
Certified Appraiser
Kansas City, MO/KS

 

[Midwest Guy]

Mr. Yates,

Chris Cooper's advice is very good. I run into similar situations, however it is not that hard to score a few investors that are willing to talk to an appraiser. If you run into this frequently, then you know some investors and a survey can be by telephone or other means of communication.

The Multiple Listing Service is a good resource, however we agree many neighborhoods are not represented for single family rental comparison.

 

[wegoswmissouri]

Does anyone know of a better way to get rental comparables other than using MLS? I am doing alot of work in the City and there seems to be 0 rentals that are posted on MLS.

Any ideas would be helpful or if you have a database that you have built up I will compensate.

Thank You in advance.
Chris

First thing I do is after I measure the subject property, I drive around the neighborhood and look for, Realtor-"For Rent" signs in front of homes (doesnt matter if they are not comparable) and write the phone #'s down and call them up and see what else they have in the subject's neighborhood that match your criteria. Next, I always grab those little free booklets you see at the grocery strores etc., for apartments rentals etc., these little mags have lots of rental companies you can call and ask if they have anything that matches your subject. Some of these listing company's have online access to their listings as well. Also, you can type in "Real Estate Listings" on your search engine and get directed to your city and area, at least with these you can get some phone #'s for listing company's and get help from them. Finally, call up other appraisers in your area and ask them if they have anything you can use from any of their previous appraisals. Hopes this helps!

 

[Kim Williams]

Try using zilpy.com