Zillow Provides Zestimates for Rentals
Zillow.com is adding a new feature to its site that will estimate monthly rents for about 90 million homes or apartments, regardless if they’re available to rent or not.

"Rent Zestimates" provides a new way to help renters determine a fair rental price as well as help landlords set a price. Rent Zestimates are based on public records and public listings data and are designed to provide estimated rent prices for homes and apartments across the country.

The new feature comes at a time when “accidental landlords” are on the rise: One-fourth of respondents in a recent survey say they are home owners intending to move in the next three years and are considering renting out their home.

"Buyers and renters are not exclusive categories--many people are considering both options when shopping for a new home,” says Zillow CEO Spencer Rascoff. “Similarly, many would-be sellers in today's housing market are considering whether to become landlords rather than sell at a loss. We created Rent Zestimates to empower people with information and data to make the right real estate decision for them."

Source: “Zillow Expands Zestimates to Include Rentals,” Zillow.com (March 10, 2011)