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Updated about 3 years ago on . Most recent reply

Account Closed
  • Investor
  • Minneapolis
3
Votes |
6
Posts

Rentometer vs. Zillow

Account Closed
  • Investor
  • Minneapolis
Posted

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?  

Most Popular Reply

User Stats

147
Posts
77
Votes
Jeffrey Edwards
  • Real Estate Broker
  • West Bloomfield, MI
77
Votes |
147
Posts
Jeffrey Edwards
  • Real Estate Broker
  • West Bloomfield, MI
Replied

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.  

  • Jeffrey Edwards
  • [email protected]
  • 248-270-2740
  • Loading replies...