January 24, 2016

Rental Comp Data for January 2015 ... I No Longer Trust Rentometer Data

I've been tracking comp data for our rentals via Rentometer.com roughly quarterly when I remember.   I'm however now about to give up on Rentometer.    The last time I checked was August and the data I looked up today is completely unchanged for 3 of our 5 properties.

Here's the January 2016 data :

2bed 3bed 1bed 1bed 3bed
house house apt apt house
10% $766 $766 $374 $409 $1,014
20% $865 $847 $411 $450 $1,099
median $1,000 $976 $490 $565 $1,225
80% $1,245 $1,153 $555 $609 $1,424
90% $1,345 $1,233 $592 $650 $1,509
 # prop                34               35               34               35               35
 dist              0.5             1.3             0.9             1.8             0.4

Properties A, C & E are exactly the same in all points compared to August and that can't be valid.   I know for a fact that rents for the areas that A & E are in are going up pretty fast.

I'll probably switch to using Zillow.com and/or Craigslist..com    Zillow just gives their Rent Zestimate which is just a single dollar estimate of rental value.   But it doesn't seem to handle the mult-plex properties too well since it doesn't seem to cite rents for individual apartments.   It works well enough for the single family homes though.

Zestimate numbers today for the SFH are :

A $1,500
B $1,400
E $1,675

Plus I can get a lot better filtering on Craigslist so it will be better.    It takes a lot longer to do such comp checks on Craigslist however which is why I've liked to use the simple / easy test on Rentometer.


No comments:

Post a Comment

Blog Widget by LinkWithin