Market rent survey insights for accurate valuation.
Understanding market rent is essential when evaluating investment performance, setting rental rates, or comparing competing properties. A market rent survey provides the data needed to make decisions confidently by showing what similar units in the area are achieving and how each property competes within the broader rental landscape. We take a detailed approach, so you receive information that reflects current conditions and the realities of your local market.
A strong market rent survey begins with verifying comparable properties. We review features, amenities, square footage, location benefits, and overall appeal to determine which rentals offer a true basis for comparison. From there, we document asking rents, concessions, vacancy trends, and any incentives influencing pricing. This creates a clear picture of how each comparable performs and how the subject property fits in.
We also analyze position within the market. Some rentals outperform their peers because of deferred maintenance, stronger amenities, or different tenant profiles. Others may sit at a higher or lower price point because of unique features or limited competition. By outlining these differences, we help you understand not just the numbers, but the context behind them.
Once the survey is complete, we present the results in a clear, organized format. You receive data that supports both immediate decisions and future planning. Whether you are evaluating a purchase, preparing a lease renewal, or assessing overall performance, a quality survey gives you a reliable foundation for setting expectations.
At Second City Appraisal, we provide market rent survey services in Chicago, Illinois that deliver clarity, detailed comparisons, and dependable insights for property owners, managers, and investors.