Rentometer and Other Market Rent Tools
I'm thinking of subscribing to Rentometer, especially since they have a $45 a year special going on right now. Any feedback or better tools? I do also use Craigslist and RentCafe and my buyer agent sometimes has reliable info. Sometimes.
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Both Rentometer and Zillow can be hit-and-miss. In Austin MSA for example Zillow is a little bit pessimistic, both in valuations and rental potential. In San Antonio, both the valuations and rental zestimate are optimistic, about 10% higher than what the market bears. Rentometer relies solely on radius, which can lead to grossly missed estimation (as they cross main roads, highways, subdivisions, etc.). So, I would take them both with a solid grain of salt.
MLS CMA and lease CMAs should be your main source. We also used Rentrange.com reports.
And if you want to fast/stay rented, don't shoot for the highest rent possible, go for the medium to lower range of spectrum - vacancy is a killer of cash flow.