Market Rent Survey
A market rent survey is essential to the success of any real estate investment. Whether you are considering a new investment or have a property that is recently vacant, a rent survey can make a big difference between your desired rent and your actual rent. A rent survey can tell you what current rental rates are and the direction in which they are trending. You can also learn what the occupancy rate is in an area and examine what tenants are looking for, exactly. You can also learn the value of the property and the feasibility and means of increasing the value.
Here are the steps to a market rent survey:
Step 1: chart the property facts
- Number of bedrooms
- Square Footage
- Current rent per month, expected or actual
Step 2: Comparable Properties
We will compare your rent to several other properties in the area and adjust for any differences.
Step 3: Act on the Results
This is where you take the report and use it to set your rent or decide if you will submit an offer on an investment property you are considering.