What is the goal of a comparison analysis in property management?

The goal of a comparison analysis in property management is to collect information on similar properties and determine rental adjustments. This process involves evaluating properties that are comparable in size, location, amenities, and other key characteristics to assess how a property stands in relation to its competition in the market. By analyzing the rental rates of similar properties, property managers can make informed decisions about setting competitive rental prices, adjusting rents based on current market conditions, and ensuring that the property remains attractive to prospective tenants. This careful analysis ultimately supports the goal of maximizing occupancy and revenue for the property while maintaining a fair market position.