Rentometer lets you know if you're paying too much for rent

by Brad Linder Aug 30th 2007

Every time you look in your neighbor's window and notice their marble countertops and high ceilings, it's hard not to get jealous. But you console yourself with the knowledge that they must be paying way more in rent than you are.

Thanks to a rather unscientific Google Maps mashup, you can now cry yourself to sleep in the knowledge that they just got a much better deal than you. Rentometer compares your apartment with others in your area and lets you know if you're paying more or less for rent than your neighbors.

The site works by using iiProperty data and a Google Map showing the locations of comparable apartments. Click on a bubble with a plus sign to see who's paying more than you, a minus sign to see a lower rent, and an equal sign to see a place where the rent is identical to your own.

The site doesn't account for parking, proximity to public transportation, or the age of buildings.

[via Webware]

Tags: google maps mashup, GoogleMapsMashup, rent, rentometer

Reader Comments (Page 1 of 1)

allison said 8:46PM on 9-04-2007

Hi Brad,

Thanks so much for the post on our site.

You will be relieved to know that there is a bit more science than appears under the hood of the Rentometer...but then again..what else would you expect from a bunch of MIT geeks? ; )

We don't use iiProperty data unless an iiProperty user wants us to, by posting to the Rentometer specifically.

Here is how it works:

Overall, the Rentometer gives you a quick analysis of the current market rates in the area you are interested in.

The Rentometer does take amenities like parking, age and other amenities into consideration.
Here's how:

The analysis results compare units in close proximity of similar size and type. If the rent is on the high side, we point out that there may be a great reason for this in terms of offered amenities and provide the owner with a way to show off those offerings in detail by linking to the map pin.

This keeps the search results less subjective and the tool easy to use, while leaving the addition of posted amenities - unlimited to both owner and viewer.

Where does the data come from?
We receive data feeds and direct posts from owners and managers who have vacancies, on a daily basis. We also search for viable data daily, then cleanse that data with our proprietary algorithms to ensure that data is consistent and not skewed one way or another.

We also have a Rentometer in Canada and in the UK.
Check out our top ten list links with more historical trends coming soon.

We have more search methods on the way and more new features planned for the Rentometer...so we hope you will stay tuned!

So far we have received overwhelming positive comments from renters and owners. We hope to be able to provide more free valuable services in the future.

We appreciate all comments and input.

Thanks again, from Team iiProperty!

Allison

Allison Atsiknoudas
CEO
Investment Instruments Corporation

http://iiProperty.com
http://Rentometer.com

Lee Jones said 3:51PM on 9-05-2007

I thought I was getting a pretty decent deal. I hope my landlord doesn't see this and raise the rent!

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