The Carrington family of companies' vast experience in rental management and acquisition gives the CPP management team and analysts a deep and unique understanding of the Single Family Rental marketplace.
CPP is able to provide rental price estimates using local MLS data. The analysis includes MLS rental comps, rental market analytics, and a local market flip activity report all driven by local MLS information. The analyst chooses the best available leased and for lease comps to provide a rental price estimate.
The Rental PRR combines the standard PRR with three agent rental comps, agent estimated rental price, and a full Rental Analysis. The PRR aids in validating asset pricing, as well as identifying neighborhood or market concerns, condition issues, and other potential risk factors. The Rental PRR also looks at risk factors specific to rental such as rehab and ongoing maintenance concerns, vandalism risk at vacancy, and factors that may contribute to leasing delays such as location and market saturation.
Hybrid Customized Solutions
The Rental Analysis and agent based products can be layered to provide a complete picture of whether or not a property is suitable for rental while meeting the tight timelines of the acquisition process. By initially completing a desk review, market dynamics can be evaluated to ensure the market will support rental activity, and an initial rental value established, all with a turn time as short as 24 hours. Once the preliminary rental viability is established, a field review utilizing a PRR, BPO Plus, or CMA with Rental Analysis can be ordered to further evaluate the property.
CPP can produce customized output forms presenting the data and calculated data elements (from MLS data) in whatever way the client desires. Wholly new products can be developed to suit individual client needs.
Client Specific Review Criteria
The CPP analyst can be given specific direction to assume or consider certain situations, property conditions, or market factors as they are completing their review. This allows the existing forms to be used, but provides results that are geared towards the specifics important to the client.
Diligence and Quality Control Solutions
CPP has the tools and experience to provide custom diligence and QC solutions on a single asset/flow basis or for large pools. These tools range from reviews to ensure client underwriting criteria is met to evaluating neighborhood characteristics and other rental suitability factors in order to recommend a purchase or disposition strategy. CPP is an established leader in the development of diligence services for single family rental and NPL investments.