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Old 11-16-2015, 10:50 PM
 
200 posts, read 138,123 times
Reputation: 32

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Hello Folks,

I am trying to buy my 1st townhouse/condo in Irvine/Anaheim, however i will not be living in it during the first 3 years and have to rent it out, is there a verified source i can check in regards to how much can i rent out a 1600 square feet/2 to 3 bed-room/ 2 bath townhouse? HOA will be around 200-400 so the tenants will get the pool/tennis amenities as standard.

1. Craigslist?
2. Zillow?
3. Apartments.com
4. Realtors - bad sources as their greed for quick money means lies lies lies and sugarcoated fake responses, so i don't trust them

These sources exist but they don't really talk about for how much eventually any unit rented out to.

If people can share their friends or own experiences will be a huge help.
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Old 11-16-2015, 10:53 PM
 
18,483 posts, read 20,287,976 times
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For checking out local area rent prices I use rentjungle.com or postlets.com to get a average going rate for the area where my rentals are located. I take in account size, amenities, and shape rentals are in (ours vs theirs) and make a realistic assessment on what I can get. I want to be competitive and attract the best tenant I can get. There is a big difference between rental prices in Irvine and Anaheim.
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Old 11-16-2015, 11:19 PM
 
Location: Dana Point, CA
121 posts, read 131,378 times
Reputation: 99
Well your best option would be a good Realtor, however judging by your post that probably won't happen. Sooo I'd say check Craigslist/Realtor.com listings for direct comparables, and make note of how long it takes them to rent. That should be a fairly accurate gauge of what you can rent it out for.

In my area the price posted for rentals is generally what they end up renting for. If this is your first time being a landlord, your #1 priority should be finding a GOOD tenant. Bad tenants are complete nightmares. One of my families investment properties was recently in complete shambles when the tenant moved out, and we had to gut the place from top to bottom.
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Old 11-17-2015, 09:42 AM
 
200 posts, read 138,123 times
Reputation: 32
Quote:
Originally Posted by OCerik View Post
Well your best option would be a good Realtor, however judging by your post that probably won't happen. Sooo I'd say check Craigslist/Realtor.com listings for direct comparables, and make note of how long it takes them to rent. That should be a fairly accurate gauge of what you can rent it out for.

In my area the price posted for rentals is generally what they end up renting for. If this is your first time being a landlord, your #1 priority should be finding a GOOD tenant. Bad tenants are complete nightmares. One of my families investment properties was recently in complete shambles when the tenant moved out, and we had to gut the place from top to bottom.
Thanks OCerik, i think it all boils down to the number of weeks its taking for a single family home or a townhouse to be rented out let's say in SantaClarita ....my guess is 2-3 months minimum? I will take a closer look at realtor.com where i am guessing they should mention the actual rented date.
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Old 11-17-2015, 01:55 PM
 
Location: Irvine, CA
43 posts, read 57,760 times
Reputation: 49
In Irvine, a townhouse that size is going to rent from $2200-$2800.
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Old 11-17-2015, 09:38 PM
 
Location: LA/OC
1,082 posts, read 1,742,861 times
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Quote:
Originally Posted by varanj_16 View Post
Thanks OCerik, i think it all boils down to the number of weeks its taking for a single family home or a townhouse to be rented out let's say in SantaClarita ....my guess is 2-3 months minimum? I will take a closer look at realtor.com where i am guessing they should mention the actual rented date.
Keep in mind that prices, days on market, etc will largely differ between neighborhoods. One side of town can vary wildly from another. I know sites like zillow and realtor have "recently sold" data, but I don't think they have any data for leased properties besides the active listings.

I remember you mentioned working with a redfin agent previously. If you're still working with that agent, or any other, you can just ask them to send you the MLS data of recently leased properties in the areas you're targeting. Data doesn't lie, but it also doesn't tell the entire story. If you don't feel like you can trust the agent you're working with, try working with another you can. I understand the cynicism, but good agents are more about pleasing clients for the long term and not a quick buck.
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Old 11-17-2015, 10:14 PM
 
Location: SoCal
13,398 posts, read 6,404,610 times
Reputation: 9987
Rent.com
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Old 11-17-2015, 10:17 PM
 
Location: SoCal
13,398 posts, read 6,404,610 times
Reputation: 9987
New single family with tiny yard in Irvine can be rented for about $3000 a month. Maybe slightly cheaper if it's a town home. But 2 bedroom apartment in Irvine is already $2900 near Irvine Sprectrum.
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