If you are interested in real estate investing, it is essential you are accessing the most reliable data possible to ensure you will be generating a profit on your investment. It can be difficult to keep up with the frequently changing real estate market, so investors seek different platforms to help navigate their investment decisions. Rather than keeping track of many spreadsheets and having to update the data on a daily basis, there are real estate investing websites that keep all of this data for you and update it as needed. These platforms help investors navigate through anything and all things real estate analytics. In this article, we will look at two different real estate investing platforms: Rentometer and Mashvisor. We will determine how accurate is Rentometer vs Mashvisor.
What is Rentometer?
Before determining how accurate is Rentometer, we will discuss exactly what Rentometer is. Rentometer is a website that allows users to look at certain neighborhoods to determine what rent properties typically go for in that area. To use the website, you just enter the address of the property, certain details such as how many bedrooms and bathrooms the property has, along with how much you are asking or planning on listing the property for rent each month. Then, the search engine will compare your listing to others in the neighborhood to determine if the listing price will be a strong competitor in the area compared to other listings.
To determine how accurate is Rentometer, it is important to figure out where they are getting their data from. After a Rentometer review, Rentometer hasn’t exactly released specifics of where they get their data from. For their rental listing data, they said they collect data from bulk syndicated data, Rentometer’s proprietary rental data survey, and user-generated input. Rentometer says this update is updated daily and or as they become available.
Though this suggests that most of their data is taken from public sources, they don’t specify which exact platforms this data is generated by. This makes it sort of difficult to determine how accurate is Rentometer if we cant determine how accurate the data itself is they are providing users with for their rental investment decisions.
What is Mashvisor?
Mashvisor is a website for real estate investors or any user looking for data and analytics in the real estate market. Mashvisor uses data and analytics to help investors see how their investment problems might perform. Their accurate data not only helps investors see how their properties will perform right away, but how their properties are expected to perform in the future. Along with this data, Mashvisor provides investors with different investment strategies for their rental properties. This essentially means they will compare how your property will perform as an Airbnb or rental property vs as a traditional; property. Investment strategies are useful to ensure that investors are making the right decision on their rental property and the property will be making money in real estate.
While it is unknown exactly where Rentometer gets its data from, Mashvisor collects all of its data from reliable websites such as Airbnb, Booking.com, and Vrbo. Collecting data from reliable sources enables the best investment decisions for investors. Additionally, Mashviosr uses the median to generate their data, rather than the average. Using the median rather than the average creates the most accurate and reliable data for investors. Using the median eliminates all of the outliers that are included in other data that only look at the averages. Mashvisor only presents the most precise data to investors. Using the median rather than the average is unique to Mashvisor. Almost all other real estate investing websites use the averages of data. Mashvisor ensures its users are getting the most accurate data available.
How Does Rentometer Work?
To answer the question “how accurate is Rentometer”, it is important to know exactly how the website works. Basically, the only service Rentometer offers is the comparison of rental listing prices in neighborhoods. Rentometer lets users input their property listing price along with a few other small details about the property, and then the website compares the details of their listing to other similar listings in the same area. The point of this is so investors can see if they are over-listing or under-listing their properties.
The data they compare your rental property to is taken from unknown websites or user-generated feedback and surveys. Though some of this information could be accurate, it might not be as reliable as trusted rental property websites. Rentometer for houses, along with any other type of rental investment property can be accessed through the Rentometers website.
As Rentometers only service is comparing listing costs, you might be wondering how much does Rentometer cost? Well, there are two versions of Rentometer: Free and Pro. The free version of Rentometer allows users to see the most basic data of rental listings, while the pro offers some more tools including the Rentometer property report and the Rentometer rent analysis. Depending on which Rentometer pro you get ( basic or standard) it will cost you between $60 and $150 a year.
Now maybe you can determine how accurate is Rentometer after learning the above information. Without knowing exactly where they get their data from, it is hard to say they are an accurate and reliable website. Additionally, they really only offer a single service. This means investors will have to jump from website to website to access other investing tools. What if there was a website that has every tool an investor would need?
There is! And it’s called Mashvisor.
How Does Mashvisor Work?
As Rentometer doesn’t exactly tell its users where they collect their data, it is hard to determine how accurate is Rentometer. Mashvisor though is very open about where they collect their data from, so users know they can trust Mashvisor for their investment decisions. Additionally, Mashvisor offers a variety of services so investors do not have to jump from website to website looking for different investment tools. Below are just a few of the many tools Mashvisor offers:
- Investment Property Calculator (also known as the Airbnb Calculator)
- The Property Finder Tool
- The Real Estate Heatmap Tool
These are only a few of the tools offered to investors by Mashvisor.
What is the Property Finder Tool?
Before you can even start investing, you need to find a property to invest in. Rentometer does not offer any tools or services for investors to search through available properties. To use Rentometer, you need to already have a property purchased or in mind to search through comparable rental listing prices.
Mashvisor offers The Property Finder Tool that allows investors to search for a new investment property. In this tool, investors can search through all of the properties available in any state or neighborhood they search in. They can also use filters to filter through any properties they are not interested in. Below are some of the filters Mashvisor’s The Property Finder Tool lets you alter to find the best property for you:
- Property Type
- Rental Strategy
- Number of Bedrooms
- Number of Bathrooms
These filters allow investors to have the most accurate search through all available properties to find the best investment property for them.
What is the Investment Property Calculator Tool?
The only service Rentometer really provides is the comparison of rental listing prices in a neighborhood. Mashvisor also offers this service, but with a lot of other tools and important features as well. The Mashvisor Investment Property Calculator tool helps investors determine if their investment property will be profitable. The Investment Property Calculator runs a full investment property analysis and provides its users with reliable and accurate real estate data analytics. This data shows investors their properties:
- Return on investment
- Positive cash flow
- Cap rate
- Cash on cash return
- Occupancy rate
- Rental income
All of these help investors fine-tune their numbers to ensure their investment properties will be profitable in the area.
In the Investment Property Calculator tool, Mashvisor also provides investors with a comprehensive rental strategy comparison. This means Mashvisor compares the data between how your property will perform as an Airbnb or rental property, vs as a traditional property. This rental strategy helps investors determine if their property will be profitable in the rental real estate market. This is a great real estate investment strategy for any investor.
What is the Real Estate Heatmap?
This tool is similar to Rentometer’s rental listing price comparison but offers a much more in-depth analysis. While Rentometer specifically focuses on comparing rental listing prices, Mashvisor’s Real Estate Heatmap tool not only shows investors the listing prices in neighborhoods, it shows investors the most profitable neighborhoods and places so investors know exactly where they should be investing in. This tool lets investors conduct a neighborhood analysis to zero in on a profitable area. This tool is great for investors looking to find a neighborhood to invest in that ensures they will generate a high return on their investment.
Rentometer vs. Mashvisor? What is More Accurate?
After reading all of the above information it can be determined how accurate is Rentometer. Rentometer uses data from bulk syndicated data and user-generated surveys. Though this could be somewhat accurate, it definitely does not account for all of the rental listing prices in an area but rather only the portion that participates in the surveys and or the syndicated data from unidentified websites. So, how accurate is Rentometer? Ultimately that answer is up to the user, but keep in mind their data is coming from not-so-reliable sources.
Mashvisor is very open to their users about where they gather their data to conduct their analysis. Mashvisor only uses data from reliable sources to ensure investors can be confident in their investment decisions.
Additionally, Mashvisor offers its users more than a single service. Rentometer really only offers the service of the comparison of listing prices. Though they offer some more tools, still within the category of comparing rental listings, investors still will need to visit other websites to access other investing tools and services. Rentometer also charges between $60-$150 for this single service. This could get costly for investors if they are in need of additional investment services.
Mashvisor provides many services and tools for their users so investors do not need to jump around various websites for different services. This makes it easy for investors to focus on their investments and keep track of their data.
This article expired the question “ how accurate is Rentometer”? Renometer does not tell its users exactly where it takes its data from, therefore it is hard to determine how accurate it is. Their data could be all accurate and reliable to its users, but we would never know as they are not realizing that information to their users. This makes it hard to determine how accurate Rentometer is.
On the other hand, Mashvisor is very straightforward with its users. They tell users exactly where their data is coming from that is used to conduct their analysis. Letting your users know where exactly the data they are using is from helps them know if it is reliable or not. Mashvisor makes sure its users can trust them. Mashvisor is completely transparent about what websites they get their data from. This makes it easy for investors to be confident in their investment decisions.
Mashvisor also offers more than a single service. Offering more services makes it easy for investors who are looking to invest in the real estate market.
Overall, the decision is up to you whether you believe Rentometer is accurate or if Mashvisor is more accurate. As an investor, it is essential to use the most reliable and accurate data to ensure you are making a good investment decision.
If you decide Mashvisor is the real estate investing website for you and you are interested in accessing Mashvisor’s tools, click here to sign up for a 7-day free trial of Mashvisor today, followed by 15% off for life.