How accurate is rentometer?

[Kyle Evans]

Hey investors! Just a quick question for you guys. I'm looking at some properties and trying to come up with accurate rents. I came across https://www.rentometer.com and was wondering if any of you guys have heard and used it before? I'm not using this only but looks like a helpful tool! 

I'm interested to see what you guys think.

Thanks!

Kyle

[David Krulac]

@Kyle Evans

Its only ballpark.  And it is only based on published data like listings on Zillow, Trulia, Realtor, or other sites.  But many rentals are not advertised on those sources, so there are properties that they don't have visibility of.

Additionally they only consider number of bedrooms, they don't consider:

1.  number of baths

2. fireplaces

3. garages

4. source of heat

5. utilities that are paid

6. condition

7. part of town, while they do look at the town, there can be different types of neighborhoods in the same zipcode or town.

8. whether the property is an apt (neighbors above, below and on both sides), townhouse, or single detached house.

9. Square footage

10. size of yard

11. off street parking

12. busy street

13. close to public transit

All of the above and more can determine the rent on a property