Occupancy Feasibility Audit
As a property management company, it is important to regularly assess the feasibility of a property’s occupancy in order to maximize its potential for generating income. Here are the steps for conducting an occupancy feasibility audit:
Gather data: Collect data on the current occupancy rate, average rent per unit, and any recent market trends for similar properties in the area.
Analyze the market: Analyze the data collected to determine the current market demand for rental properties in the area. Compare the market demand to the current occupancy rate of the property being audited.
Evaluate the property: Inspect the property, paying attention to its condition, features, and location. Assess the current rental rates and compare them to market rates for similar properties.
Review tenant demographics: Analyze the demographics of the current tenants, such as age, income, and family size. This information will help you determine the target market for the property and the potential for increasing rental rates.
Identify potential upgrades: Identify areas for improvement, such as upgrades to the property’s exterior or interior, to attract new tenants and increase the property’s market value.
The Occupancy Feasibility Audit typically includes the following
steps:
Based on the data collected and analysis, we make recommendations for improving the occupancy rate and increasing rental income. This may include increasing marketing efforts, making upgrades to the property, or adjusting rental rates. By conducting a thorough occupancy feasibility audit, you can ensure that the property is attracting the right tenants, generating maximum rental income, and staying ahead of market trends
Contact
- S3, 2nd Floor, Chandralaya Flat, No 36, Vageeshwari Amman Street, Vijayalakshmi Puram, Ambattur, Chennai, India
- (+91) 99403 77437
- info@avkind.com
