How to Determine Market Rents

How to Determine Market Rents

Rental Ads

Take a look at the price range for rental listings in your area. Find a high/low and average depending on the finishes. Use resources like Kijiji, Facebook Marketplace, Padmapper, etc.

Property Managers

If you are using a property manager or know a PM you can speak with, get their advice. They have eyes on the market and are constantly advertising and leasing units.

Trial & Error

Start with the highest rent you think you could achieve, if the ad sits you know your price is too high. Adjust quickly and don’t let ads age.

Real Estate Reporting

CMHC publishes rent reports every year in each major city in Canada. However, it has been widely known that the rents published are extremely conservative.

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *