Not all appraisers are experienced in Market Rent Appraisals. Market Rent is usually expressed in monthly or annual rental payments for a particular property, either as a gross rental amount or as a per unit rental amount. Market Rent is usually expressed in annual square foot units for commercial and industrial properties. Amounts such as $8 or $20 per square foot per year are common examples. Contrarily, residential rental apartment Market Rent is usually expressed in dollars per month. Typical examples would be $800 or $1,200 per month.
Appraising Market Rent requires research of similar properties. Comparable rental properties are used for this purpose, in much the same way as comparable sales are used when appraising the Fee Simple Market Value of a property. There are many variables which must be considered, including the lease term and the services included or excluded from the rental value.
Our firm is experienced in providing Market Rent Appraisals throughout the country. Give us a call for a no-obligation consultation.