Rentometer help needed?

5 Replies

Hi everyone, 

I'm thinking about becoming a rentometer pro.

I been analyzing 3 deals a day and now they are forcing me to sign up for the pro member ship.

Would you guys recommend me to sign up?

Thanks,

Nickolaus Cabcabin 

I happen to love it, but it depends on how often you are purchasing investment properties. Some people use craigslist to evaluate if you are not going to get your money's worth.

Depends on how serious you are. 

I think rent-o-meter resets after a month so in another month you get your 10 free again. You 'should' get a feel for the rents in your area by about the time your free time is up. Plus you can get on your tablet, another pc or cell phone and get your 10 free again.

That being said, if you are going to make a proposal to someone that involves rents I like to bring out rent-o-meter as a strong reference. Say you are going to raise rent, or looking to pitch a deal to someone.

Rent-o-meter is pin point accurate for location wise, and is a great resource. But Rent-Jungle or RentCafe (cannot remember which one) breaks down rent via neighbor hood. That should be good enough if you are just window shopping or trying to get a feel for the basics of running numbers.

I wouldn’t do it. A realtor can give you similar information. If you get to the point like I’m at now you can just ask your PM who can tell you to within 25-50 bucks usually

I would not do it.

In my experience rent o meter is ballpark at best.  You can get that info and more accurate from plenty of other sites, craigslist, zillow, rentcafe, local PM, etc

I recently used my BP Pro Perks to get 50% off the monthly pro subscription at Rentometer. Just quickly running a few properties through it has caused me to question how valuable the data is. It drags in a lot of properties that aren't really comparable or they use the room rate in the analysis which grossly underestimates the rent in a 3+ bd unit. The analyses are too broad and shouldn't be taken at face value. You need to roll the results into a spreadsheet and adjust. You'll likely get better estimates just checking sites like craigslist and Zillow like others have suggested. It's a little more work but will get you better results and more accurate rents.