Rentometer Review: Using Rentometer to Analyze a Rental Market
Nov 26, 2021What do you guys think about Rentometer?
Sherida Zenger: I actually like Rentometer. I paid for the pro subscription to Rentometer. I think there are some good things. I know I've used it when we've analyzed a few properties or projects. I think they have some good information.
Sometimes their reports are not as detailed as a CoStar would be, but I think they all have their own benefits. Overall, I found it useful.
Rentometer vs CoStar
CoStar would give you what big property managers and apartment complexes have listed or have reported as closed.
Rentometer on the other hand, if you're in a market that has a lot like a hodgepodge of inventory... Where people are listing it online through some of these places, Rentler or whatever, it's a good way for you to see am I reasonable?
I love the little diets, like a speedometer. When you say I have a three-bedroom unit, uh, two and a half baths, here's the street address. And I want my rent at $1,800 rent.
Rentometer will tell you the little speedometer says very affordable, very unaffordable, right? And they're analyzing everything that's listed and available. So that's a good, valuable perspective because you go, if I'm a tenant and I Google a property to rent, what am I going to see? And then myself as the builder/developer, what am I, what is my target going to see? In relation to what I'm advertising.
Sherida Zenger: You must be competitive. You can't be the lowest rent, but you can't also be the highest rent.
Watch the rest of the episode here:
Submit A Question To Be Covered On The Show!
Let us know what topic(s) you want covered in a future episode.
*Submitting this form opts you in to receive news and updates from our team.
