June 4, 2020

We're always working to improve our rent analysis tools, and towards that end, we're excited to announce the release of our "baths" filter.

The Rentometer bath filter is very easy to use. On the Rentometer homepage, when you are defining a new search, after inputting the address and the # of beds, you will see the "baths" filter dropdown (see attached image).

Just click on the dropdown menu and choose one of the following:

1. "Any" – units with all baths

2. "1 Only" – units with only one bath

3. "1.5 or more" – units with 1.5 baths or more

We designed the baths filter with these options because, after careful analysis, the biggest price differences were observed between "1-bath" only units and "1.5+ bath" units. 

Once that difference is accounted for, the price changes are less dramatic, and the analysis's value is diluted because the volume of sample data becomes thinner.

Below are examples for three major cities that highlight the significant difference between a 1-bath only unit and a 1.5+ bath unit.

 

 

          Description

Bath = “1 only”

Bath = “1.5 or more”

Difference $’s

Difference %

 

  Nashville, TN:  3-BR House

 

$1,412

 

$1,863

 

$451

 

+32%

 

  Los Angeles, CA: 2-BR Apt

 

$2,365

 

$3,247

 

$882

 

+37%

 

   Chicago, IL: 3-BR Apt

 

$1,741

 

$2,789

 

$1,048

 

+60%

 

The price differential between different floor plan types is different from market to market, can vary by building type (apartment vs. SFR), and is affected by local supply and demand dynamics.

Also, the price differential may not be attributed entirely to the "extra bath" but can be a function of other factors that are present when there is an extra bath.

For example, a 2BR/2ba unit in Boston, MA is probably in a newer building, with a larger floor plan, and with updated amenities; versus a 2BR/1ba which is perhaps in an older building, with a smaller floor plan, and fewer amenities.

The bath filter will be most effective with 2-BR and 3-BR units, no matter the building type (apts/condos or house/duplex). The predominant bath configuration for Studio and 1-BR floorplans is 1-bath; and, 4-BR+ units are not as standard (in most markets), so parsing on bath count usually dilutes the sample size with less reliable results.

We are excited to provide the bath filter as an additional tool that will help our customers sharpen their results and, in many situations, save them time by reducing or eliminating the need for further analysis.

Test it on your properties and let us know what you think!