Property Owner? Your BEST Rental Price With These 3 Sites...Under 60 Seconds

I want you to know that out of any of the terms and pricing that you will handling and 

proposing to your future tenant-buyers, the most important number is your rental price. 

Hands down. Sure, any reasonable person should and would want to sell your property at 

the highest purchase price. Since you are selling as "rent to own" (Lease with the Option to 

buy) though, if you are too high on your rental amount, your property will sit and it will not 

matter at all how much you want for your total purchase price.


Get this one number wrong and the only thing you will succeed at is attracting nosey neighbors.

When my team and I talk to sellers, letting them know that they can get their full asking price while

not paying any commissions or fees in the process, some sellers get dollar signs in their eyes and get

the crazy idea that they can jack up the rental price to whatever they want-and get it. This is the

furthest thing from the truth.


With the ease and accessibility of the internet at everyone's finger tips these days, all it takes is a few

seconds and key strokes for a home seeker to enter in the area they are interested in living, the

criteria they desire and the price point they want to pay. Within seconds, they can quickly shop you

along with your competition and see if you are priced right-or over priced.

 Take Craigslist for Example:

Yes, you are selling, rent to own, and you are giving great terms that may even justify a higher price,

but...that does not mean that the overall tenant-buyer population has any real idea of why they should

pay more for your property compared to your competition. You may be justified in charging an extra

$100-$200 per month for your rental amount, but charging more and actually succeeding in

renting/selling your property to a tenant-buyer is a whole other game.

 
I highly suggest that you make your money on a higher Option price (the purchase price you will sell

your home for) on the back end, compared to raising the rent on the front end (at least in the

beginning). Please keep in mind, there are other ways you can be fully compensated in exchange for

great terms that you will be extending out to your future tenant-buyer that won't price you out of the

market.


In order to price your rental amount correctly, here are three sites to easily and freely check how

much you should be charging. Please keep in mind, the following list is by no means a

comprehensive list. Please feel free to check other sources as well if you desire.


1. Rent-O-Meter.com

• You can quickly enter in your address, desired rental amount, and also gives you a "metered" range showing you if you priced your home too high, too low or just right.

• Basic free report limit is 10 reports every 30 days

2. Zilpy.com

• Shows how the target property rent compares with the neighborhood, zip code and the city

• Zilpy Cashflow Report is used by thousands of Landlords, Real Eastate Professionals and Investors across the country

• Uses advanced data mining algorithms

3. Zillow.com's "Rent Zestimate"

• Zillow's estimator tool called "Rent Zestimate" is Zillow's estimated monthly rent price, calculated using a proprietary formula. It is a starting point in determining the monlth rental price for a specific property. 

• They key thing to understand with all three of these sites here is that you can plug your property's info in within a few minutes, getting a pretty good idea as to the amount you can charge tenant-buyers for your rental price. 

• Do not get ambitious and raise your rental price several hundred dollars more than the market rent.

• The only thing you will succeed by doing that, is going nowhere fast. 

• Make your money on your Option price (purchase price), instead of over pricing your rental amount.