Rental Analytics: What You Need To Know

Are you in charge of completing rental analytics for your rental properties in the Renewals tab? Have you ever noticed that the data you inputted recently is now different to what's online? Chances are, you have. The good news is, this is completely normal and there is no need to be concerned. In this article, we will explain why the data changes and whether or not you need to re-do your rental analytics.

The main reason for the change in rental analytics is the market. The property market is ever-changing and can fluctuate on a daily basis. As a result, the analytics you collect may change slightly as well. However, the changes typically should not be significant enough to render your analytics invalid. It's important to remember that your rental analytics are meant to support the Property Manager's recommendation to the owner with factual evidence of the current state of the market. That data is not used to make decisions on the lease or rent; it is there just to support a recommendation made by the Property Manager based on their own expertise. So if it is slightly different to what you've viewed more recently, that's typically okay.

In most cases, you do not need to re-do your rental analytics unless your Property Manager states otherwise. However, if you do notice a significant change in the analytics and are concerned about the data you've entered being outdated, it's always best to bring this up with your Property Manager. They will be able to assess whether or not the rental analytics need to be completed again.