This presentation will help you navigate how to read a Rentometer Pro Report after entering in your address search.
Transcript: From the homepage and I’ve already entered some information for an address I want a rent comp on. I’m going to go ahead and click analyze.
You’ll see we will immediately be brought to the Quick View page, which gives you key rent metrics here with some average and median information in a map. After evaluating it, I’ve decided as an investor, or landlord, or property manager that I want the more detailed report.
I’m going to go down below the map and click on View Pro Report.
* We also have a great video on How to Read the Quick View.
As you can see, it’s all the information we added into the system, and down below we have a picture of the property. We have some key rent metrics here that include the average, median, and some percentiles. We also show what are analysis is based on. In this example, it’s based on thirty 2-bedroom rentals seen in the last 12 months with the radius that was set.
We do get questions of what the percentiles mean.
Simply put, if you were to line up all the rent comps that Rentometer evaluated for this search from lowest rents to highest (from 0 – 100) we would give you what the rent is at the 25th percentile mark and the 75th percentile mark. Typically, rents that fall below the 25th mark are the lower rents and the rents above the 75th percentile mark are on the higher side. Rents that fall in between (between 25th and 75th percentile) are more reasonable rents.
We offer a couple of helpful graphs below the key rent metrics.
One is the Historical Trend Line. The blue line indicates the average rents overtime. The orange line is the 4 Quarter moving average. This is the average of the rents for the last 4 quarters. People use a moving average to smooth out any anomalies that occur due to seasonality. So you can see a smoother trend line showing how the rents are going. To the right side of the report, we give you the average rent by bedroom type. Down below we give you more summary statistics and also a rent distribution graph, so you can see the breakdown of the rents.
Below the summary data, we offer a detailed map with the address that you entered and displayed in this orange icon and the other rent comps are in the colors in the rent legend over here. Below that we show you what those rent comps in the map are. We list the address of the rent comp, the distance from the property that you entered in, the rent, size, dollar per square foot, amount of beds, baths, building type, and last seen so last time the rent was reported in our database.
By scrolling down below the map, you see each comp has some information below the address. If you click on the “G” icon this will give you the Google Search Results. Click on the “Person” icon to open Google Street View so you can move the map around and get a better view of what’s around the property. Also, you can click on Property Details, which gives you any property information such as tax information, sale information, and any other details that you may not be able to access otherwise.
By scrolling back up to the top to the map, you can download all of this information into an excel sheet. You can download to .CSV and further filter the information in excel if that works for you. When you scroll back up to the top of the report there are a few more options. Again, you can click on the “G” icon to view in Google Search Results that will automatically open information about this property in Google. You can click on the “Person” icon to open Street View so that you can move the map and see the other properties around subject property. You can “Share” this report with someone if you click on the “Share” icon, you can email this report to either a client or customer. Finally, you can print the report by clicking the “Print” icon here.
At the top of the report next to your Pro account email address, all reports are saved in the “My Reports” section that you can click on and view all your searched reports. You can also download any of these to a .pdf, email, or print the reports.
That breaks down the Rentometer Pro Report for you. If you have any questions when reviewing the data or reading any of the Pro Reports, we’re happy to help. As always email firstname.lastname@example.org.
If you liked this video, subscribe to Rentometer's email newsletter to stay up-to-date on the latest trends in rental housing.