A HUD-compliant market study from Hodges & Pratt can round out your multifamily project plans with vital information. We will analyze the market for supply and demand, as well as project-specific analysis of the development. Net and effective demand calculations for the project are included within this format. This data will report on geographic boundaries, specific market conditions, and the general traits and characteristics of the market area you have chosen. This report will be utilized by the lender as part of their application process to HUD.
A conventional multifamily real estate market study provides a tremendous overview of the area you plan on investing in. Pulling together information from government websites, national databases, and phone surveys, conventional market studies are an essential part of any multifamily development plan. We’ll compile useful statistics covering subjects like rental history, physical characteristics, and location. If there are potential problems, such as incongruent rent structures or income levels, we’ll report on that, too. We will report on supply, demand, risk and mitigates to give you the tools you need to assess the level of risk associated with a specific deal. Backing up our findings with photos, data tables, and a clear narrative, Hodges & Pratt does all the research you need to make your investment decision.
Before you dive head first into the multifamily unit ownership or development pool, it may be appropriate to conduct a preliminary analysis of the market. Hodges & Pratt takes your investment idea and puts it to the test. Our researchers will examine the current market, learn who your nearest competitors are, and gauge the socio-economic factors in the area. The company’s extensive work in the Southeast allows us to give you a wealth of information while keeping your bottom line in mind. With a preliminary market analysis report from Hodges & Pratt, you’ll know what you’re getting into before you even step foot on the property.
In addition to market studies, Hodges & Pratt offers a variety of consultation services. We provide representation for both buyers and sellers with decisions concerning purchasing, selling, or building multifamily real estate. The company also handles real estate tax appeals and analysis, estate planning, and legal disputes. Years of experience dealing with various types of property gives us the edge in determining highest and best use in a given market area. Contact us today and learn more about how we can help you.
Challenges in the housing market abound, but Hodges & Pratt can help city, county, or even state governments and municipalities plan for the future with a Housing Needs Assessment. This specialized report allows these bodies to identify housing issues in any given area. The information gives valuable insight into upcoming real estate needs. A Housing Needs Assessment can be used as the foundation for departmental policy changes, residential planning, industry recruitment, and tax-based economic development. These reports can be customized to fit the requirements of specific communities and are a great way to introduce specific, data-rich information to pave the way for growth.
A Rent Comparability Study (RCS) lets our clients know the proper amount of rent to charge for each unit type within a Section 8 community. Hodges & Pratt selects comparable properties, determines their monthly rental rate, and offers detailed advice, based on noted differences between the surveyed properties and the chosen property. Taken into consideration are factors such as age, amenities, distance from the subject property, and overall quality. The RCS is submitted to HUD for review for establishing the contract rents that will be paid at a Section 8 complex.