We all know that we can go use the Multiple Listing Service to find prices of homes for sale, but what about rent? There is a great system newly our called Rentometer that allows you to type in a geographic code, like a city or a zip code, enter your price point, and find both available rentals as well as what other rentals are charging. You can search single unit homes for rent, or apartment building with up to 50 units in them.
The systems works equally as well for downtown and suburban areas. Knowing rents is critical for a few reasons. A we stated here before rental prices are critical long term indicators of property values. Moreover, rent can be a critical tool in the home buying process.
The facts support that if you are a seller and price your home properly it will sell. Great homes are selling in weeks and it if you find that you are selling a great home and looking for another knowing the rents in the area is important. You may find yourself in a position where you have a buyer and nowhere to go. As inconvenient as it may seem, renting a large townhouse or a full size house while you look for your dream home can take the worry off your mind of where you go after closing.