CBD Condo - Acceptable Rental Comps

[Pamela Crowley (Florida)]

Does anyone read what the actual questions are on these posts? Thanks all for your opinions. Now I know how to appraise a condo in Mayberry. I'll just knock on the doors of both units. I'm just kidding - thanks anyway.

Doesn't matter whether it's 2 units or 200 units in the subject project or located in Mayberry or downtown New York. You do whatever is necessary to complete the assignment with complete due diligence and competence. Some take more than others.

#1 - Do whatever it takes, primarily using the owner, to get the management company to cooperate and give you the necessary information.

#2 - IF #1 doesn't work, look up which units are not owner-occupied and knock on doors to get the necessary information.

Sorry, maybe my previous answers were too vague.

Good luck! I hope your fee is comensurate with the necessary time it takes to do something like this. I charge about $100 extra for condos for just this reason.

 

[jtrotta]

Paul, :lol: :lol: :lol: :lol: :lol:

I've got some data on rental units in Mayberry- perhaps that'll help 8O

Seriously, don't know why the management company won't provide the input, I generally start there and explain what I'm trying to accomplish, they usually are decent about the info.. My second choice would be to check local newspaper's - rental section and/or any other Real Estate freebooks; local news opportunity's. If you can get some of that data, do not throw it away, make a rental file and keep that data, it will allow you future use and also you will then be able to track the data. It becomes very valuable info. Almost forgot, you can also contact your local municipal Housing Dept., they can provide typical data for Section 8 (my area) tenants, which can provide you some basic rental data.

Good Luck-sorry I couldn't be of any assitance :lol: 8)