Market Rent

Market rent refers to the rental rate that a property is expected to command based on current market conditions and comparable properties in the area. Market rent is used to evaluate the potential rental income of a property and to set competitive rental rates to attract and retain tenants. Factors that influence market rent include location, property type and condition, amenities, local supply and demand, and economic conditions. Market rent can fluctuate over time due to changes in these factors, and property owners must periodically review and adjust their rental rates to stay competitive in the market.