Got a question about renting? Expert leasing agents at The Rental Girl address your concerns.
Question: I’m looking for a rental, but I’m not familiar with the market. How do I know if the advertised rent is too high?
The Rental Girl: Just like purchasing a home, the value of a rental is subjective and is based on what any given renter at that moment is willing to pay. There are many factors at play: supply and demand, amenities, square footage, layout and very importantly, what feelings the home elicits. For this reason, it is very difficult to measure a rental’s value based on photos and an ad description. Also, there is no comprehensive database available to search rental comps – to see exactly what properties rented for. There are many websites available that will tell you what the average rent is – but these are based on asking prices on active listings, not the negotiated lease amount on rented units. Still, viewing the average rent amount in a specific area will help you determine if you are paying too much or just the right amount.
Here are my recommendations:
Rent-o-meter (based on current listings)
The Rental Girl Comps (based on leased properties)
and try this Rent Estimator: (based on current listings)
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“Ask a Rental Agent” is a series of helpful Q&A’s brought to you by the lovely real estate agents at The Rental Girl . The Rental Girl is a leasing agency with branches throughout Los Angeles. Each branch is operated by a unique agent who specializes in her area. All agents at The Rental Girl are California licensed Real Estate agents who specialize in helping renters and home buyers with all their real estate needs. Do you have a question you would like answered by an agent? Fill out the form below to submit a question to The Rental Girl:
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