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Updated about 3 years ago on . Most recent reply
Rentometer vs. Zillow
When I compare my condos to what other apartments/condos are asking, rentometer is very low. I do believe it gives you an average of the general area, but I'm finding it can't gauge accurately sometimes for a couple reasons -- it can't tell if I have 2 baths instead of 1.5, nor can it tell that some of my rentals are considered 'higher end' because of the finishes - and so some of my properties can compare with the 'newer/upscale' apartments in town, but for some folks, mine may more desirable because it's only got 1 shared wall. That said, I still find it somewhat risky in this Covid environment to know if I'm not about to overprice mine to the point where it may sit empty for awhile. What are your thoughts on this?
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If you have a property manager, I would reach out to them first and see what their thoughts are and possibly a local real estate agent who has rental experience. Websites are great but I feel like humans can be very helpful as well.