Real estate search engine Zillow.com is best known for estimating the value of houses and condos across the U.S. Now Zillow has launched a new service called Rent Zestimates, which will have rent prices for about 90 million homes. Zillow is used as a marketplace for renters, sellers, and buyers.
About 70% of people that move each year are renters and two-third of these renters do not know what fair rental prices are before signing the lease.
Having access to rent data will help people predict how to budget their housing. Landlords will benefit from the service by using Rent Zestimates as a starting point for determining how much to charge for rent.
Rent Zestimates will appear in hovering speech bubbles over properties available for rent on the Zillow map.