All Forum Posts by: Brandon Elliott-Pandey

@Brandon Elliott-Pandey
Rentometer has worked out quite well for me. It's fairly accurate in Columbus, but has a few shortcomings and is by no means perfect. You can always cross-reference rent amounts with Zillow and apartments.com.

Course, thanks for your thoughts Patrick!

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Quote from @Kevin Manafi:

@Brandon Elliott-Pandey As a Realtor® I always use the MLS for my most accurate rental comps. If I want to be extra sure, I then follow up the MLS search with looking at comps on Hotpads, Trulia, Apartments.com, etc. just to give my clients or myself an idea of what the competition is charging around me in real time.

Thanks Kevin, yes I do the same thing. Just wanted to see what other planforms there are out there to share as a value add for my clients.

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Quote from @Luka Milicevic:

I start with the MLS-I'm an agent and have access to all MLS info. I search for closed comps in the exact subdivision to see if there are any. From there I expand my search.

I also check zillow to see what's active at the moment.

Based on closed comps and active inventory is when I start to determine where to price my rental.

Thanks for your thoughts Luka! :-) sounds like a great approach!

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Quote from @Colleen F.:

@Matthew Morrow do they use any data on rentals besides what is listed in the MLS? Tor sales I get it, but for rentals very few are listed in MLS these days.

That's actually why I asked this question. :-) to see if there are other platforms out there that I can share with my clients other than Rentometer.com

Thus far, the MLS is the most accurate of course but Rentometer still seems to be the best. I'm looking into rentcast right now and it seems pretty great as well!

1 Vote

Quote from @Matthew Morrow:

Quote from @Colleen F.:

@Michael Dumler why would the MLS be better at rental comps then rentometer, zillow or similar?

Similar reasons to appraisers only using MLS data. This information is essentially peer reviewed and verified to remove any bad info. Zestimates can be wildly off and you don't want to base your entire business model on some computer algorithm that may have a metric wrong.

Couldn't agree more. Well said Matthew!

1 Vote

Quote from @Artem Belayev:

I use rentometer to get a basic number then Zillow to see what's actually available and its condition. Zillow also shows how many people contacted or applied which can help. MLS if u have access! Hope it helps.

Totally does, thanks for your thoughts Artem!

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Quote from @Colleen F.:

@Michael Dumler why would the MLS be better at rental comps then rentometer, zillow or similar?

That is a great question! The MLS and a GREAT Realtor are able to pull market data but also make judgments on the property based off of its conditions, location, amenities, etc with you. As a rule of thumb, Realtors are able to give you more accurate information and judgments vs an online platform.

But platforms are a great place to start and get ideas of what areas to look into before spending a large amount of time on an area to find out you need to look elsewhere.

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Quote from @Michael Dumler:

@Brandon Elliott-Pandey, why not pull lease comps from the MLS since you already have access? This is the most accurate method to set rents in my opinion. Hope this helps!

Totally true, I am always looking for a simple tool to be able to run comps or pull moderately accurate data outside of the MLS. It's a value add opportunity for my clients and then if they want something more dialed in and I have a firm commitment we generally run the comps through the MLS.

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Quote from @Ron Brady:

We use Rentometer, Rentcast/Dealcheck, Zillow and, to the degree we can, finding our own comps when we’re preparing to list. Best wishes to you.

I have yet to hear about (Rentcast/Dealcheck) thanks for sharing that. I'll have to look into it!

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Quote from @Jake Soper:

Like Nathan said, use the data aggregate sites first to get a sense of the overall market inventory + price. But neighborhoods, streets, asset types, etc all have nuances that effect rental prices and can turn an OK deal into one that you should pass on. And vice versa, this knowledge also can help create opportunities in areas that other investors dont look.

Thanks for your thoughts Jake! Good notes :-)

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All Forum Posts by: Brandon Elliott-Pandey

Brandon Elliott-Pandey has started 40 posts and replied 181 times.

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?

Post: Where do you get your information for market rents?