Clear Capital released its Rental Market Report. This new product is an extension of the company’s widely used Broker Price Opinion (BPO) and includes a host of additional information to analyze and determine appropriate rental rates and potential rental income for a specific property.
As opportunity in the rental market is heating up, the Rental Market Report can be invaluable to organizations or investors considering investments in distressed or fair market properties to hold and rent. It can help them find the “needles in the haystacks,” or which properties have the best rental prospects from within a broad portfolio. It can also help them make decisions about the ROI on specific repairs prior to rental, and dramatically reduce the risk and improve the outcomes with “leaseback” and REO-to-Rental programs.
“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.”
While other sources for estimated rental rates are available from online sources, Clear Capital’s Rental Market Report is unique in that it 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.
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.