Rent comparables (comps)

Comps are chosen for similarity in location, age, unit size, amenities and resident profile. Managers track their advertised rents, specials and availability, and adjust for differences such as in-unit laundry or parking.

Well-chosen comps ground market rent in evidence. Poorly chosen ones lead to overpricing (longer vacancy) or underpricing (lost income). Managers typically refresh comp data at least monthly, and more often during lease-up or seasonal peaks.