Our data comes from both public and paid sources. We monitor many property websites and listing sites every day to see when new listings hit the market, how long they stay on the market, which concessions they are offering, and when each listing is taken off the market.
Instead of surveying listings weekly or monthly, we detect updates daily to capture the last listed rent before each unit is taken off the market. With this approach, we detect even units that were listed on a Monday and leased on Friday – which is critical because units that move quickly are typically the most appropriately priced units.
Based on tests with our clients, these rents are typically within $5-10 of the actual leased rents on a rent roll. We believe this is the closest you can get to knowing a property’s actual rents without owning it.