Rental Survey

A rental survey can be performed for residential and commercial real estate properties by surveying the market for comparable rental properties and/or lease data. This is required whenever an appraiser develops an income approach when evaluating real estate property. Property managers and/or tenants may require a rental survey be completed by a Certified General Appraiser when negotiating extensions on a lease in order to determine fair market rent.

A market approach will be conducted to locate comparable properties. Rents are typically analyzes of a value per square foot rental area basis. There are different types of leases, such a triple net or modified gross, that may include or exclude various expenses which would have a significant impact of the command in rents. Modified gross leases typically have the owner pay for most of the expenses, whereas triple net leases place the responsibility mostly on the tenant. Some leases may also include CAM charges and percentages of sales in addition to base rent.

A Certified General Appraiser can be hired to study and analyze market rents and their types of leases to determine a predominant rental value that a subject could command in a fair market.

Call Us Today To Get Started On Your Rental Survey!!