*Tracking The Rental Market*
**By Tony Garritano**
***As more people move away from owning a home in favor of renting a home, information on rentals is in demand. The fact is that people are also being forced to rent. If your house is foreclosed on you are probably going to be a renter very soon. On a similar note, mortgage lenders and investors are increasingly becoming landlords as a result of mass foreclosures. So, everyone in our space needs good rental data. To this end, a company called RentRange has developed a tool to zero in and optimize rent estimates by property; pre-fill or supplement traditional AVMs, BPOs and appraisals; determine sell/rent/hold strategies and more. Here’s what they offer:
****This automated valuation solution by RentRange provides key information about localized vacancy rates, rental market strength indicators and more vital intelligence. Specifically, RentRange, LLC is a provider of single-family rental market intelligence to the financial services and real estate industries. With a core focus on national residential rental data, analytics, and valuation solutions, RentRange delivers a wide assortment of address and geography-level knowledge and rental AVM technologies designed to fit the demands of any sized organization.
****The company offers geography-driven regional data on rental properties, both single family and multifamily apartment/condo/townhome residences. Macro data is available at MSA, city and zip code levels in a variety of formats designed to provide vital decision-making information at top speed. RentRange also offers address-level rental property AVM (automated valuation model) with confidence score, neighborhood rent averages and trends, area vacancy rates and rental market strength indicators.
****I’ll be sure to keep you updated on RentRange and others looking to help the space become more educated about how to deal with rentals.