When you’re attaching a rental value to a multifamily unit, accessing good data is critical. You need to study the market and get an idea of what similar properties are renting for in your area. Look for multifamily market data with a local property management company. Property managers will have the best access to the most reliable numbers. They price rental units like yours every day.
Accurate and competitive pricing increases your cash flow and your return on investment. A rental home that’s priced too low will stall what you earn in both the short and long term. It will be hard to bring your rental value up to market rates. Overpricing a home is just as bad. It contributes to longer vacancies. Whether you have one unit in a multifamily property to rent out or you own an entire building, property managers can help you price those homes accurately.