COMPLIMENTARY PROPERTY ASSESSMENT
Are you a landlord, or would you like to become one? If you are and you're thinking about buying or selling a property, you shouldn't be guessing or relying on sites like Zillow or realtor.com to see how much your property is worth or assuming what you should charge for rent. Successful investors and landlords all have one thing in common, and that is that they trust the advice of experienced professionals in their industry.
Getting an RMA or rental market analysis from a broker who has experience in the industry will prove to be invaluable when deciding how much your property is worth and what you should be charging for rent. As one of Northern Virginia's most well-established property management companies with over 26 years of experience in managing properties and helping owners adjust rents, Property Management Advisors is your perfect resource.
What is an RMA?
You've probably heard of the term comparative market analysis or CMA; getting an RMA or rental market analysis is essentially the same thing. An experienced broker will help you understand the current market value of your property by comparing it to properties in the area that are similar in value.
Once your RMA is complete, you will be able to understand if selling your property is the right move for you or what you should be setting your rent as a landlord.
Typically investors use an RMA to make a smart investment decision when they're looking to buy a property or determining what to charge for rent on a property that they already own. When an RMA is done properly using an experienced broker who knows the industry, it can provide very useful information about the rental market and potential profits you could be expecting once you either purchase the property or adjust your rent accordingly.
Why a RMA is Excellent for Landlords
RMA's are crucial for landlords coming into the 2023 rental season. When it comes to setting the rent price, one of the worst things you can do with the landlord is leave money on the table or, worse yet, over-priced your property and not have any interest in it. Keeping your property fresh with up-to-date rental prices will ensure that you have a constant cash flow and stable vacancy level.
Getting an RMA is also essential if you are thinking about investing in a specific property. You don't want to go into an investment property without calculating the costs. Having an RMA is a helpful starting point to ensure that your investment is profitable.
If you're looking to have an RMA on a specific property, please reach out to Property Management Advisors, Northern Virginia's leading Property Management experts. Randy Huntley, our most experienced broker and lead property manager, will be happy to assist you with your RMA.