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Have You Heard Of Rentometer.com?

By Justin Ukaoma

Real Estate Agent with Vizion KC

January 22, 2009 01:16 PM

As a landlord offering a competitive monthly rent amount is an important step towards keeping your property occupied and cash flowing. If you set your monthly rents too low you may never cashflow making your investment worthless. On the other hand if your rent is set too high you may never find a tenant, which leaves you with a vacant, non-cashflowing property as well as a potential target for vandalism.

Whenever we’re looking to purchase or manage a rental property for a client one of the first places we go for rental rate recommendations is rentometer.com. After answering a few simple questions about your property rentometer compares your property against other rentals in the area and determines whether your rent is too high, too low or just right.

The results screen is detailed and easy to read.

rent-o-meter

Rentometer.com helps take the guess work out of setting your monthly rents. It’s just one of the many tools we use to help our clients make money in real estate.

Want to see what the Vizion Group can do for you?

http://vizionkc.com/investors/

816-372-7855 justin@vizionkc.com

*** Results may vary. What works well in Kansas City may not work as well in your neck of the woods. The information on this site is intended to be used as a guide ***

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Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239

Real Estate One - Commerce, MI

Michigan homes for sale ~ yesmyrealtor@gmail.com

I had never heard of it before. But I have had a few rentals over the years.

Jan 22, 2009 01:20 PM

David Timm

Coldwell Banker Residential Brokerage - Fort Collins, CO

CRS, EcoBroker, GRI, ABR

Justin

I was searching for a tool like this today. This is very timely. I will use it and plug in our info. Thanks for the blog.

Jan 22, 2009 01:32 PM

Justin Ukaoma

Vizion KC - Kansas City, MO

Kansas City Real Estate Investments

Russ -- It's a very hand tool.

Jan 22, 2009 01:34 PM

David -- Hope this helps you as much as it helps us everyday.

Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty

Leolinda Realty - Surprise, AZ

Sun City Grand in Surprise Arizona

Most renters in my market area pay anywhere from $1,000 to $1,300 monthly for a 3 bedroom property. When I utilized this website it indicated that 49% of other properties listed were less than $1,000 a month.

It appears that this website utilized information obtained from 1,000 listed properties within 13.5 mile radius from the property I input. The website did not have the capability of addressing specific communities i.e. gated, golf course or adult communities.

A website such as this may result with inaccurate and misleading information for both a renter or a landlord.

Jan 22, 2009 02:10 PM

Sun City -- Thanks for the input I should have put a disclamier on this post. Results may vary. Naturally more consideration should go into choosing your monthly rents than just this site. Thanks for stopping by.

Jan 22, 2009 02:17 PM

Bradley Giles

The Heger Company - Los Angeles, CA

This is a great general tool I hadn't seen before. Thanks. I think we are all professional enough to know the magnitude and accuracy of a site like this.

Bradley -- I think you're right. This site has been a great guide for us but obviously it's not the end all be all for calculating rents.

Jan 22, 2009 02:22 PM

One last thought. It would be interesting to see if there is a commercial property rentometer. I'm sure there would have to be more questions to determine whether the rent is in line with others in the area, but it is possible.

Jan 22, 2009 02:44 PM

Kent Simpson

Realty One Group Mountain Desert - Tucson, AZ

Real Estate Is About People

What a cool tool, Justin. I'm going to play with it & see how accurate it is in my market. Thanks for sharing!

Jan 22, 2009 03:19 PM

Jack Gilleland

Home Inspection and Investor Services, Clayton - Clayton, OH

Hey Justin, it told me I was cheap. Now all I have to do is figure out how I'm going to tell the tenants I need to raise their rent. Just kidding, don't think I'll raise the rent right now.

Jan 22, 2009 03:39 PM

Regina P. Brown

MBA Broker Consultants - Carlsbad, CA

M.B.A., Broker, Instructor

Justin, thanks for this cool tool. I wonder where they get their data, and how accurate it is?

Jan 22, 2009 07:11 PM

Rich Mielke

REMAX Results, Frederick MD - Frederick, MD

REALTOR, Frederick Maryland Real Estate

Justin, thanks for posting this. It is another tool to use when working with rental clients.

Jan 23, 2009 12:11 PM

Bradley -- Now that would be interesting.

Kent -- It works pretty good around here but you never know how sites like this will work in different areas.

Jack -- It says I'm cheap on a few of mine also. Hey if you're still cashflowing your doing better than most.

Regina -- I've wondereded the same thing. I find it to be pretty acurate in my area.

Rich -- Glad that you liked it.

Jan 23, 2009 04:03 PM

Have You Heard Of Rentometer.com?

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