After analyzing comparables, what should a property manager be able to provide the owner?

The ability to provide estimates of routine operating costs and capital expenditures after analyzing comparables is crucial for a property manager. This information helps the property owner understand the financial implications of managing their property. By examining similar properties in the area, a property manager can gauge average expenses such as maintenance, repairs, insurance, and property management fees. Additionally, the analysis of capital expenditures enables the owner to anticipate costs associated with larger projects, like roof repairs or upgrades to appliances.

Providing this financial overview supports the owner’s decision-making process about setting rental rates, budgeting for unexpected costs, and planning for future property improvements. It ensures that the owner is well informed about both ongoing operational costs and potential investments, ultimately aiding in the long-term profitability and functionality of the property.