When analyzing rental properties and BRRRR's, you'll need to estimate the potential gross rent each property will be able to generate. This will help you calculate the net operating income (NOI) and cash flow of your properties more accurately.

DealCheck makes it easy to view recent comparable rental listings for each property, their average listed rent, as well as the estimated rent of the property you're analyzing based on its comps and characteristics.

How to View Rental Comps & Rent Estimates

Step 1: Open the Rental Comps & Rent Page for a Property

Go to one of your rental properties or BRRRR's and click the Rental Comps & Rent link from the menu on the left side:

Rental comps & rent link in property menu

 

Step 2: View Recent Comparable Rental Listings

You'll see a list and a map of up to 20 recent rental comps, including their address, description, distance and rental listing information:

Rental comps & rent estimates page

Please note that you're limited to viewing 5 comps with our free plan. Upgrade to DealCheck Plus or Pro to view the full list.

Step 3: View Rent Statistics & Estimates

In addition to a list of comps, you'll see their average listed rent, an automated rent estimate of the subject property, and the estimated rent of the subject property based on its living area and the average rent per square foot of its comps:

Rental listing estimates and statistics

Tip: You can update the current gross rent of the subject property right on this page, based on the estimates available to you.

Step 4: View Additional Information for Each Comp

You can click on each comparable property from the list to view additional information, details and photos of that property:

Comparable property details popup

How to Add, Edit & Customize Rental Comps

With the DealCheck Pro upgrade, you can select which comps are included in the estimated rent calculations, edit the information of comps imported automatically, as well as add comps manually.

Selecting Comps to Use in Calculations

You can control which comps are used for calculating the rent estimates at the top of the page by checking or unchecking the checkbox next to them.

This is useful for fine-tuning the list of comps to include only those that most closely match the subject property:

Select rental comps to use in calculations

 

Updating Comparable Information

If the details or listed rent of any of the comps imported automatically are missing or are inaccurate, you can click on that comps and quickly update any of the information yourself:

Adding Comps Manually

Finally, if you'd like to use your own comps that you have from other sources, you can click the Add button at the top of the comps list and enter their information manually.

Comps added manually will be included in the estimated rent calculations, just like comps that were imported automatically.

Add rental comps manually

Adding Rental Comps to Your Property Reports

You can include a page with the recent comparable rental listings and rent estimates when you create and export reports for each rental property or BRRRR.

To enable this, turn on the Include Rental Comps toggle under Report Sections:

Property reports include rental comps toggle

The next time you generate a report for that property, you'll see rental comps added on a separate page:

Rental comps page in property reports

 

Note: The above screenshots were taken from our online app, but the same features can be found in our iOS and Android apps as well.

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