Rent isn’t an easy topic to talk about. It’s certainly not easy to break down, either.
Your monthly rent has to be situated next to bills and food. You also have to figure out where it’ll stand besides retirement plans, rainy day funds, and disposable income. When your clients approach you concerning a home they want to rent, this is all something you have to break down for them, too. A rent estimator tool is the great equalizer that brings everyone together. It helps you create an average neighborhood rent for broad scenarios and whittles down specific cases with ease.
Do you know how to find average rents? What about rent statistics for the future? Let’s take a look at what homeowners are worried about so you can do your work even better.
More people than ever are looking to rent a home. It’s the mortgage and rent, however, that intimidates far too many into not buying. Your job as a real estate agent is to make the entire process even smoother. The rent estimator tool bridges the gap between you and your client with easy numbers, figuring out market rates and averages at the click of a button. Just over 25% of Americans rented their home in 2016 and this number is only getting bigger.
What does the real estate market look like these days and what does it mean for your business? According to a 2016 study over 65% of houses were headed by people younger than 35, who were also renting, to boot. This is up from 60% just a decade prior. Keeping track of these changes isn’t easy with so much on your plate, of which a rent estimator tool can help with. Over 30% of renters move every year and this number is unlikely to change in the foreseeable future.
Your rent estimator tool can be combined with other useful forms of technology to further break things down. The neighborhood search tool, for starters, helps you find relevant locations for your demographics — a safe neighborhood for a new family or a thriving downtown location for a single entrepreneur. Different forms the rent estimator tool takes on is the address rent report tool and the rent predictor. There are many factors that can increase or lower the price of rent. A standard water heater can be a huge boon depending on its age, for example.
How do you convince your clients to take the plunge with so much on the line? Make sure you have the numbers to back things up. Interestingly enough, many homeowners find their worries easing after they’ve found a home. A recent survey by Better Homes And Gardens Real Estate revealed 95% of people who invest in real estate believe it helped them achieve financial success. This same survey also saw 90% of investors actively interested in putting their money in real estate.
You have clients who want to rent a home. You have potential clients still wondering if they can afford the monthly rent with so much else on their plate. Bring them up to speed with a rent comparison analysis tool that’s rooted in hard numbers. These apps are updated regularly, helping you avoid many mistakes new landlords make. While this old wisdom certainly holds up, it’s recent statistics and new trends that will feed you most of your information.
Real estate is anything but dying. Make sure it stays that way with a rent estimator tool by your side.