Whether you are a new landlord working on setting up and renting out your first property or you have a huge portfolio of units that you are working with at any given time, you might be missing out on a crucial tool to help you improve your bottom line.
How are you currently determining what the right rental price is in any given area? Do you use word-of-mouth, personal experiences, or a mishmash of research? While there is nothing wrong with gathering your information in those ways, there is an easier option, and it is called Rentometer!
Rentometer is a tool that uses a few calculations to figure out what the going rental rate should be for a specific property. This tool, which can be invaluable for landlords, bases its information on recent listings, so the information gathered is always up to date.
If you still struggle to set prices or feel like you might be missing out on some of the profits that landlords in your area seem to be making, it might be time for you to check out Rentometer reviews. Find out if this service is right for you and start making more money!
In today’s article, you’ll be able to learn what Rentometer is, how it works, what you can expect, and whether or not this tool fits into your business model. By the time that you’re finished reading, you might even have a new plan in mind for your property growth.
A Table Of Contents For Rentometer
- Rentometer Rating
- Rentometer Review
- Rentometer Company Analysis
- Products Available From Rentometer
- Rentometer Rental Listings
Rentometer reviews have earned this site a 5/5 rating for what it offers to landlords who are looking to improve their business or growth strategy.
Rentometer gets a 5/5 rating today because they provide accurate, reliable, and easy-to-understand information for landlords that are looking to analyze the neighborhoods they are working in. The information they provide can be truly helpful when setting rent prices and making purchase decisions, so there is some real value in their product.
Additionally, they offer a variety of reasonably priced packages so that landlords from different parts of the rental industry can find one that works for them, and this makes their services more accessible than some comparable tools.
- Various reports with many filtering and customization offers
- Reliable, regularly updated data
- Various products for different types of landlords
- Batch analysis of up to 100 properties at one time
- Integration with Google Search results
- Free version isn’t as accurate or telling as the Pro version
- Much of the information can be found for free online, but Rentometer brings it all into one package
Let’s get into a deeper understanding of how Rentometer can prove useful for landlords and which tools are the most powerful.
Huge Amount Of Information In Each Report
Many tools can give you an idea of what rent prices are in a given area, but not all tools are created equal. Some tools give you basic and unreliable information, but that isn’t the case with Rentometer. That’s the first thing that you should know as a landlord.
There are many different features that you gain access to once you are fully subscribed to Rentometer Pro (or when you purchase access to a complete report). The information provided includes:
- Embedded Google Street View and search results
- Property Reports
- Historical Rent Trends
- Customized report branding
- “My Reports” allows access to previous reports
- Rent analysis report
- Map presentation
- Filtering Options (by property age, distance, radius, or building type)
- Rental listing prices
- Property size
- Price per square foot
- Number of bedrooms and bathrooms
- Last listing date
- Zip code and neighborhood searches
- A variety of custom reports
Each of these reports has its own unique benefits, so they can be used by landlords like you in a variety of ways.
The historical rent trend information, for example, can help you to understand if you are jumping into a growing market or one that has remained stagnant for some time. This information can help you decide if you should do upgrades or simply price a property to rent quickly.
While a lot of this information can be gathered for free from the internet with a couple of searches, it takes a lot more time to do that than it does to run a property, rental, or neighborhood search on Rentometer. Saved time equals saved money in the real estate world, so you should consider if those savings balance out with the cost of Rentometer Pro.
Rent Analysis Report
The primary type of report offered by Rentometer PRO is the rent analysis report. This report gives you a very specific and detailed look at how the rent of your property or another specific property lines up with every other property in the area.
The data can be customized to take into consideration:
- Specific date range
- Specific geographic radius
The report is set up in a very clear way so that you get clear access to the following information:
- The number and type of listings used to create the data
- How the property’s rental cost compares to the other properties
- Access to individual, comparable property reports
- Stats on each comparable property for easy comparison
- Summary statistics
- Rent distribution
With all of this information, you can make huge strides in how well your properties are performing simply by knowing more about what is going on at comparable units in the area.
Batch Analysis Available
Another incredibly interesting feature that can be valuable for landlords that want to analyze their entire portfolio and every area they work in is the Batch Analysis tool.
Essentially, all that you need to do is enter up to 100 property addresses and then run the analysis. Once it is returned to you, you can see information for each address and every possible property type. As you are receiving information for five different property types, you are getting the equivalent of up to 500 reports at once.
Each Batch Analysis can be saved to review or run again later, which means that you can easily check changes in your markets. Additionally, you get a CSV or spreadsheet back so that you can easily copy, edit, and further analyze your data.
This tool is great for landlords that have large portfolios or for those that are trying to determine what market area they want to move in next. The plethora of information that is generated could be gathered manually, but it would take days, if not weeks, to do so.
This is a small feature, but it is one that isn’t often seen in an industry where branding matters more than many people realize.
When running reports through Rentometer, you have the option to upload your company’s logo and have that appear on each report. Pro subscribers are able to view customer address and neighborhood reports, and these can be great tools.
Whether you have a meeting with a potential client, investor, or renter, having something with your business logo on it is a big step up from having some other company’s name all over your research.
It’s a subtle difference, to be sure, but branding and showing that you are in charge of your business matters can go a long way.
The Property Report
Another one of the reports from Rentometer PRO that will be particularly interesting to you is the property report. This report gives out a huge amount of information about a specific property:
- Street View image
- All rental history in the Rentometer database
- Year built
- Detailed property tax information
- Detailed last sale information
- Property dimensions (including building and lot details)
- Deed information
- Building code information
This detailed property report can be accessed from any rent comp listings when you run a basic comparison, so you can get a better look at what the properties running up against your unit. In particular, a report like this can be great for gauging if your property is truly comparable to those in the area, or if you need to make some changes before it hits the market.
Zip Code And Neighborhood Reports
Popular tools that many landlords like to use are neighborhood and zip code reports. These reports can be helpful for getting a broad picture of what a neighborhood is like in terms of properties, pricing, and rental costs.
Rentometer PRO offers both zip code and neighborhood report tools. The overall structure of this type of report is very similar to their standard Rental Report, but this uses a different type of data to gather up the comparisons.
The rental report focuses on properties that are similar to the rental in question while the zip code and neighborhood tool focuses on including every single property in a specific area. That means that the data is more of an average of the area regardless of property type, while the rental report represents what realistic expectations of rent from a specific property would be.
Final Review Of Rentometer’s Key Features
To summarize what Rentometer has to offer, check out this complete review as a reminder of what’s been covered today:
As mentioned in today’s review, there are a few different levels of subscription available from Rentometer.
Free PRO Trial
Rentometer offers up to five limited rental reports for free to any new member of their site. No credit card is required to access these reports. Up to three of the reports can be run as a batch analysis, so it is a great way to see if this is a tool that makes sense for you as a landlord.
The best on Rentometer can be accessed through their annual subscription plan, PRO Annual. This plan offers a full year of complete access to all of Rentometers PRO features and up to three batch analysis reports per month. More batch analysis purchase credits can be added at any time.
For those that aren’t ready to commit to an annual subscription, the PRO plan is also available as a monthly subscription. This flexible account can be canceled at any time, and it has the exact same benefits as the annual subscription plan mentioned above.
PRO Flex Plan
Another flexible option available from Rentometer is the PRO Flex Plan. This plan offers a set number of reports for a set price. As of writing, this plan offers 20 reports for $29. The report credits can be used for up to one year, and the reports generated can be accessed for up to one year as well.
This flex plan is a great option for the first-time landlord that wants to be smart about how they manage their business but also needs to be conservative with the funds they spend.
In addition to their subscription programs, which we have focused on in today’s review, there is another feature on Rentometer that you will find interesting as a landlord. They have their own rental listing marketplace, and you can list your properties on the site for free.
Since landlords like you, as well as real estate agents, property managers, and potential renters, are coming to Rentometer daily to check out the property market, it makes sense to have a rental listing program. If you decide to list your properties on Rentometer, they will be shown in relevant search results and reports.
The exposure from Rentometer for your properties is unlikely to be as big as it is on other sites, but it is free to list. If you have the time to upload your rentals here, it makes sense to use this market benefit.
Is Rentometer Truly Useful?
Rentometer reviews may say various things about the service, but we stand by that this 5/5 star product can be a genuinely useful tool for landlords. Whether you’re hoping to expand the areas you work in, are trying to update your rental prices, or simply want to get a different picture of what is going on in the market, you can find all of this and more with Rentometer.
Rentometer is not a one-size-fits-all tool despite the site having so many different reports available, so it is important to consider if you can make use of the analyses that you would gain access to. We believe, however, that most landlords would benefit from them.
There are many unique ways to find the information that you need to grow your rental business, but you can access much of that information faster by simply subscribing to a great tool like Rentometer that does the gathering work for you!