How does projected rent differ from the rent the tenants are currently paying?
In a nutshell:
Actual rent is the rent being collected from the current tenants and can be verified by reviewing their lease agreements. Projected rents, on the other hand, are based off of potential lease and occupancy rates.
Why use projected rents?
Projected rents can be a great tool if you're looking to invest and no other data available. They can also be useful if the current tenants are paying below-market rate rents. Keep in mind that projected rents are an estimate and might not reflect the actual income that can be generated from a property.
Where can I find actual and projected rents?
- If available, we'll list the actual rents under the address on the property page. If not, we're happy to reach out to the seller's agent and obtain them for you.
- We provide Everbooked short-term rental estimates and RadPad long-term rental estimates on the property page below the map.