Rentometer says that its reports are curated from proprietary technology and data, and as such, they don’t share a lot of information about where it gets its data. The company is the principal sponsor of the Independent Rental Owners Committee, which is a subgroup of the National Apartment Association, according to its website. In April 2012, it was acquired by an ownership group that is led by Mike Lapsley, a veteran of the rental housing industry. The site will then take your data and compare it with other listings that are like yours in the area, then give you numbers and visual data to show you how your property and rent compares to other properties like yours.
To figure out comparison rents in your area, all you have to do is enter your property address as well as your unit’s number of bedrooms and a monthly rent range. Rentometer is a simple-to-use online resource. The company says it is the “go-to service for reliable rent data for apartment, condos and homes,” as it’s delivered more than 15 million rent comparison reports. Rentometer is an online resource that uses proprietary technology to give users an analysis of rent comparisons in a particular market. But how accurate is Rentometer, and is it something you should invest in if you’re a property owner looking to rent out your housing? How Does Rentometer Work?
One of those tools is Rentometer, an online resource to research comparative rents in a location for properties of your type, size and look. Today, there are various information sources and tools available on the internet to help you research the appropriate levels of rent you should charge. While most people focus on the location of their rental, its size, its amenities and how it looks, perhaps the biggest determining factor of whether it is a good investment is the rent you charge. One of the most difficult parts about investing in the real estate rental market is figuring out how much you should charge for rent, and whether the rents you are charging, or intend to charge, are too little, too much or just right.