Ask the tenant to come up with a reasonable offer based on the data so you can work together to keep them there.Almost all tenants come in $100-$150 under the market rate.It's a win-win.

Considering paying but there doesn't seem to be any guarantee or data to help me make the decision.

For the first one there is a ton of data available on markets through the BP website that you may want to jump into and analyze.For the second one, $300 would be considered great to one person and a waste of time to others.

Data/lists you pull matter.

That's according to The Business Journals' inaugural hottest housing markets ranking, which is based on third-quarter listing and sales data from Intercontinental Exchange Inc. 

Direct access to MLS data, multiple solutions for sellers (off market cash deal or listing), ability to rep. yourself on your own deals (saving on commission), and of course, education & networking.Having a license costs $$$ though.

My rent data is also based on CoStar and other social media outlets' marketplaces.

The biggest ways IMO are MLS data, multiple solutions for sellers (off market cash deal or listing), ability to rep. yourself on your own deals (saving on commission).Commission savings adds up fast when you're doing multiple deals a year.That being said, there is cost to having a license so if you're only doing a couple deals a year then it might not make as much sense.

@Brett Jurgens if data is non-partisan, yes, it could be helpful if one can access it and knows how to interpret it.

If you do not have data/comps to find out your post renovation value, that ads a huge risk, and makes the move less valuable.