What site beside rentometer is good for rental comps?

Question

There is a site called paddometer or something like that that i don't remember the exact name... Thank you for your kind help

Ari Hadar · Answer

I target few areas and i have preset from my agent and i analyze few properties a day but some neighbourhood is block by block. For a quick analysis i want digital tool and then i ask an agent and PM.

It's a bit cumbersome to ask every time so i hope to know the prices by my self. Dealcheck actually has a rent and value estimate foreach property and the list of comps but i don't look at it.

I am actually having problem estimating the arv, rent and rehab and i maybe look for some youtube stuff about it.

Kyle J. · Answer

@Ari Hadar The other site you’re thinking about is called PadMapper. It’s listed in this blog article, along with quite a few other resources you can check when trying to establish accurate rent comps:

How to Determine Fair Market Rent

Hope that helps!

How to Determine Fair Market Rent

Hope that helps!

Sean McDonnell · Answer

If you are working with a real estate agent in your area, you can ask them to set up alerts for you within a given criteria. It is pretty simple and they can have the system send you new rentals when they hit the market so you can get a feel for the location/price. Not everyone uses the MLS to list rentals so another good option is just looking on Zillow. You can refine the search criteria and see how long properties have been on the market for. In an area where there is high demand for rentals, if a property has been on the market for over 30 days, it means the asking rent is too high or there is some issue with the property.

Ari Hadar · Answer

But you need to look at rented properties and not listed...

Do FB and Craigslist show the actual rents and not only the asked rent?

Cody Neumann · Answer

@Ari Hadar another idea for searching for comparable rentals is hopping on Craigslist or Facebook marketplace to search for rentals in the area.

Add up all the different units while also checking the condition of these properties and average them out.

This can be one of the most accurate ways to find the market rent.

Joe Aiola · Answer

@Ari Hadar you got some great advice from @Sean McDonnell and @Antonio Cucciniello.

I would just add that learning the rental market is like anything else - you need to watch it every day until you are familiar with the pricing. Go on Zillow, AirBnB, talk to agents and property managers in the area, call rental signs in the yard to speak to landlords, etc.

Hope this helps and best of luck!

Ari Hadar · Answer

Is padmapper accurate as rentometer?

Antonio Cucciniello · Answer

Here's what I did. I created a spreadsheet and went on zillow to see what the current listings were. I wrote down, the bedroom, bathroom and square footage and price of all the rentals in the area.

Then I used multi-variate linear regression to predict what the rents would be on a unit that was x bedrooms, y bathrooms and z square footage! It ended up being pretty accurate.

What site beside rentometer is good for rental comps?

Most Popular Reply