Clear Capital has announced the availability of its Rental Market Report, an extension of the company’s Broker Price Opinion (BPO) that includes a host of additional information to analyze and determine appropriate rental rates and potential rental income for a specific property. Clear Capital’s Rental Market Report is completed by a broker or agent during a physical inspection of the property. While at the property, the broker or agent is capturing information including property condition, construction quality, fixtures, location, access to public transportation, and all other aspects of the property that would affect rental rates.
“With investment opportunities in rental properties heating up, investors and organizations are looking for much higher degrees of insight into the rental potential of their properties. This level of insight is only possible from a feet on the ground analysis” said Kevin Marshall, president and co-founder of Clear Capital. “Our Rental Market Report was designed specifically to give them the intelligence they need to reduce risk and ensure better returns on their investments in rental properties.”
To determine the rental potential, Clear Capital’s new Rental Market Report uses an analysis of rental comparables in the local area, evaluates property characteristics, and investigates rental market trends for the area including the number of rentals-on-market, days-on-market for rental listings, and if rates are increasing, decreasing, or stable. It concludes with “as-is” and “as-repaired” estimates of the rental rate for the specific property.