Rental Property Report
Prepared by: [Your Name]
Company: [Your Company Name]
Date: [Date]
I. Property Details
A. General Description
This section provides an overview of the rental property, including its location, type, size, and unique features. The property is a modern apartment complex located at 123 Main St., Houston, TX 77001, featuring a total area of 3,500 square feet. It includes 10 residential units, each outfitted with contemporary amenities, including energy-efficient appliances, air conditioning, and access to a shared rooftop garden.
B. Key Features
Location: | 123 Main St., Houston, TX 77001 |
Total Area: | 3,500 square feet |
Number of Units: | 10 |
Amenities: | Air conditioning, energy-efficient appliances, rooftop garden |
Type: | Residential Apartment Complex |
II. Financial Summary
A. Revenue and Expenses
The financial summary provides insight into the property's fiscal performance over the past year. Below is a table depicting the revenue generated and expenses incurred.
Description | Amount (USD) |
|---|
Total Revenue | 120,000 |
Operating Expenses | 30,000 |
Net Profit | 90,000 |
B. Financial Performance Highlights
Annual Gross Revenue increased by 15%
Operating Expenses were reduced by 5%
Overall Profit Margin stands at 75%
III. Occupancy Rates
A. Current Occupancy
The property has maintained a high occupancy rate, reflecting its desirable location and amenities. Currently, 9 out of the 10 units are occupied, resulting in a 90% occupancy rate.
B. Historical Occupancy
Occupancy trends over the past year are shown in the table below:
Month | Occupancy Rate (%) |
|---|
January | 85% |
February | 80% |
March | 90% |
IV. Maintenance and Repairs
A. Summary of Recent Maintenance
Routine maintenance activities were conducted to ensure the property remains in excellent condition. These activities included HVAC servicing, lawn care, and regular pest control measures.
B. Completed Repairs
Repaired a leaking roof in Unit 7
Replaced broken tiles in the main lobby
Upgraded the electrical system to accommodate increased load capacity
V. Rental Market Analysis
A. Current Market Conditions
The rental market in Springfield is strong, with a high demand for modern amenities and centrally located properties. Average rental prices have seen a 10% increase over the past year, indicating robust market conditions.
B. Comparable Properties
Several comparable properties within the vicinity offer insights into competitive pricing and features. Noteworthy comparisons are as follows:
Property A: 2 miles away, monthly rent $1,500/unit, includes gym and pool
Property B: Downtown, monthly rent of $1,750/unit, offers concierge services
VI. Inspection Reports
A. Most Recent Inspection
The last inspection was conducted in September 2053. The inspection confirmed that the property meets all building codes, with no significant issues identified. Regular monitoring is recommended to maintain high standards.
B. Inspection Findings
Overall structural integrity is sound
Minor issues with plumbing were promptly addressed
Recommendations include ongoing monitoring of HVAC systems
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