Find Rent Comparables

[Eric Peters]

I have been made aware of a website www.rentometer.com/ca where you can enter the pertinent information for your rental property and it will tell you how your rent compares to the rent of properties in your area. So far, it seems to be providing reliable results.
Check it out and let me know if it is accurate or not accurate for you.

 

[Nir]

The issue is for many smaller areas/cities there is no data. (i.e. Orillia, Ontario). Also, possible some statistical issues such as unreasonable numbers not excluded from the caluclation as they shoul dbe. However, thanks for the information I like the idea as it can be VERY helpful for investors if the accuracy is improved a little..

 

[GarthChapman]

I just did a quick search and found these other threads on the Rentometer. Lots of good info here-



http://myreinspace.com/rein_members_only/Members-Only_Discussion/81-1908-Accuracy_of_Rentometer.html



http://myreinspace.com/rein_members_only/Members-Only_Discussion/81-1905-rentometer.html



http://myreinspace.com/rein_members_only/Members-Only_Discussion/81-1558-Rentometer_Website.htmlr



Hope that helps,

 

[RebeccaBryan]

Sometimes when you get no data from rentometer you can search for something similar to your property and not exactly the same. For example: If you have a 4 bedroom suite and there is no data, compare to a 3 bedroom instead.

 

[ReginaGuy]

I`ve actually put together my own personal database to track the Regina rental housing market. There are many free programs out there, or you could use Microsoft Access if you have Office Suite.

Some of the fields I`ve included are the price, location, number of bedrooms, type of flooring, appliances, etc. I just go through the classified ads in the local paper, and input as much info as I can into the database. This has been a great tool in helping me adjust my rental rates.

Cheers!