Do you suspect that the monthly rent you pay for your apartment is too high? Do you wonder how much the folks across the street, or in the next neighborhood, are paying for their rent? Well, wonder no more: Rentometer.com makes it easy for you to determine if you are paying too much for rent. You can also compare your rent with that of your neighbors and your general surroundings to find out who is getting the best rate.

On the flip side, if you are a landloard, Rentometer can help you figure out whether you are charging too little or too much rent. By comparing your rates against those of the local area, you can better decide whether to raise or lower your rent.

When you first go to Rentometer, you are prompted to input whether you are a tenant or landlord, as well as your address and type of apartment (studio, 1-bedroom, etc.). After you submit these data, the RentometerPro software takes a few minutes to process your information. You are then presented with a speedometer type assessment that places you either in the green (good deal), the red (overcharge), or the middle (just right) for rent payment/charge. You also see a map screen which places ticker marks where the rent is either higher or lower than what you are paying or charging. Scrolling your mouse over these individual tickers allows you to learn the exact rent amounts that are being charged at particular locations.

Obviously, with financial conditions becoming ever tighter, you don’t want to be overpaying or undercharging for your rent. With Rentometer, you can take the guesswork out of your rent situation and know for sure if you should start haggling with your landlord, or moving out altogether. As a landlord, you have a leg to stand on should your tenants start complaining about their high rent charges.

Rentometer also provides information on current apartment rentals in your area and their rates. Apartment types are divided up between expensive, cheap, and college apartments. As an added bonus, landlords can list their apartments with the site for free. Web publishers can download the Rentometer widget onto their webs sites and/or blogs.

Those who wish to know what the most expensive state capitals are in which to rent an apartment may go to the Apartment Rental Data page on Rentometer. Interestingly, I was surprised to find Madison, Wisconsin, listed as the 17th most expensive rental capital in the  USA.

Special thanks go out to fellow Associated Content Producer Darrin Atkins for alerting Your Money and Debt about this wonderful new tool. Click here to read Darrin Atkins’ article on Rentometer.