Rental Property Evaluation
Trying to decide if it's better to sell or rent your property? Trying to figure out how much you can command for rent in your neighborhood?
One of the most important parts of running a rental property is making sure the numbers align. We take a complete approach when thinking about pricing strategy and risk mitigation on your property. Our team will consult with you to help you find out what your property is worth and what type of income it can generate.
Sign up for a free rental property analysis!
Property assessment
Not all properties are created equal, and neither are their numbers. When making a rental evaluation, we look at:
- Location of property, particularly with regard to employment centers
- Year built
- Lot size
- Square footage
- Number of bedrooms
- Durability, appliance age, and operating expenses
- Any upgrades to the property
We will often go on-site to do a walkthrough and see how the property "feels". We look at the condition, curb appeal, and more.
Market analysis
The market also plays a large role in the process. We look for sales data, vacancy rate of similar properties in the neighborhood, economic trends, and rental rates. Depending on your property type, we can use two different valuation models: the comparable sales approach or the income approach.
There can also be opportunities specific to our area, like military housing stipend considerations.
Valuation methods
There are two primary methods for evaluating the value of a home or rental property. Depending on your situation, we may employ either.
Income approach - This is where we value a property based on the income it can generate. If a property has stable rental income and expenses, this can be the ideal way to structure a strategy.
Comparable sales approach - In this model, we value the property by comparing it to similar properties that have sold in the same area.
Detailed reporting
We will provide you with a detailed report of our analysis. This can include pricing recommendations, any suggestions on property improvement, and even rent vs. sell scenarios. We want to give you all the information you need to make a wise decision.
Get your free rental property analysis
Let us help you think through the best strategy for your property. Get in contact with our property management team today.
Related topics
The Team
Our Property Management team is led by Michael Gregg and Rob Brooks. Together, they lean on extensive professional experience in real estate sales, property management, and investment properties. Michael has a background in law enforcement, business administration, and healthcare emergency management. He has served on several committees within the Emerald Coast Association of Realtors (ECAR). Rob is the founder and owner of Rob Brooks Realty and has been licensed since 1994. He carries CRB, CRS, SRS, CRETS, RENE, and GRI certifications.
Testimonials from Owners
"I have known Rob Brooks for over 20 years. He is one of the most honest, hardworking, Christ-like people I know. He has managed houses and business property for us and we have never had an issue with him or his management style. He will go out of his way to make sure everything goes smoothly for his clients. Thanks, Rob, for your excellent service to our community!"
Jenny Homeowner
"Handled my rental home for 3 years with ease. We had great renters! When ready to sell it, Rob sold it in 6 days and we had 2 offers to choose from. Rob Brooks is excellent!"
Luke Homeowner
"Excellent work ethic, clear contracts, communicates efficiently and on a timely manner. From listed to rented in 10 days! Highly recommend it!"
Susana Homeowner
Start a conversation with our team
Let us help you think through the best strategy for your property. Get in contact with our property management team today.