Rental/LeaseMarket rent analyses evaluate the subject property, competing properties, and market conditions to document an equitable level of rent in an arm’s length transaction. Estimates of market rent are developed regularly for market studies, appraisals, lease disputes, and to provide an owner or prospective investor with objective opinions.
Steps in rent or lease analysis include:
When contemplating a rent analysis it is wise to consider including suggestions for financially feasible upgrades as part of the scope of work. The data gathering and analysis will take a modest amount of additional time. Suggestions for upgrades can enable the owner to substantially enhance the value of the pro