Comprehensive Rental Property Analysis With Salem’s Top Realty Experts
We offer exclusive rental property analysis services to chart out the custom growth plan for your rental property and make the most of your investment in Salem, Virginia. Our experts evaluate the condition of your property and recommend improvements to boost its value.
Conducting a Thorough Market Research
Before determining the value of your rental property, it is crucial to clearly understand and define the market in which you will position yourself, the type of services offered in competitive rental properties, the type of market, and the target geographic area.
Therefore, we conduct thorough market research to keep ourselves updated about the current market trends, such as amendments in residential laws, government policies, tenants’ demands, demographics, and socio-graphic data.
Collecting All The Valid Information
Our rental property analysis process starts with collecting relevant market data, including the details of your property, its size, location, design, and more. We also consider financial aspects, such as mortgage payments, monthly income and expenses, total profit on your investment, and money spent on a property.
Once we collect all the information, we will help you determine the correct rental value for your Salem property.
Observing The Competition In Your Area
You need to do more than just conduct rental market research to decide the value of your rental property. It is equally important to compare your Salem rental property with other comparable properties in your neighborhood to see how well they perform.
We compare your property with the other rental units in your area by considering several things, such as property age, size, amenities, proximity to transport, and the type of property, ensuring the highest returns on your investment.
Evaluating The Rental Property
Running a rental business is not limited to owning and leasing a property to tenants.
You also have to ensure your investment stays market-ready in the long term and performs well in the market to ensure steady cash flow.
Our experienced team of professionals offers free, no-obligation rental property assessment that includes rental valuation on your property, recommendations on renovations and improvements, and advice on property conditions.
Tracking The Financial Performance Of The Property
Checking the financial performance of your asset is essential to make informed investment decisions and ensure maximum ROI on your investment.
We consider total investment costs, cash flow, property buying expenses, net operating income, current market value, and cap rate while analyzing your Salem investment. It helps us determine the right rental strategy applicable to your Salem property.
Determining The Value Of Your Asset
After going through all the research and conducting a rental market analysis, we set a price worth your Salem investment.
The rental value of your investment should be 2.5-3.5% of the property cost.
We understand the fact and consider all the factors that affect the market value of your property, including selling prices of comparable homes, and divide that price by their square footage, deciding where your property falls within the set price range.
What Sets Us Apart
Lawson Realty provides a set of unique property management services with a client-centric approach, 100% devotion, and a high level of professionalism.
With over ten years of experience, we understand what our owners expect and develop a suitable solution fulfilling their rental requirements.
Salem Tenant Selection Services to Attract Your Qualified Residents
Our focus is always on attracting high-quality tenants to your Salem rental property.
That’s why we conduct a comprehensive market analysis to set the correct rental prices that your tenants can afford and are more likely to pay monthly. Apart from that,
- We leverage practical marketing tools to connect you with a larger pool of tenants.
- We draft comprehensive rental leases
- We conduct scheduled property showings
Areas We Serve
We offer complete property leasing, management, maintenance, inspection, accounting, and rental property analysis services in Salem and surrounding areas, including:
- Roanoke City
- Roanoke County
3241 Electric Road, Suite 1B
Roanoke, VA 24018
M-F: 9am - 5pm