property
KNOW HOW MUCH YOU CAN SELL OR RENT YOUR PROPERTY

Know how much you can sell or rent your property

By publishing a property on metrocuadrado.com you will now have the opportunity to add a pre-appraisal to your service.

What does this mean? “At last, there is a digital and fast way to obtain a very good estimate of the sale or rental value of your property, in a matter of minutes. This is a tool that calculates the value of your property based on advanced data from the market, your city, area and different variables of your property. The sale and rental value of the property is estimated from econometric models with a 95% confidence level, using artificial intelligence techniques. We are the first classified portal and real estate digital showcase in Colombia with this service”, explains Jacob Sandberg, general manager of metrocuadrado.com.

How to do the pre-appraisal?

– Log in to metrocuadrado.com

– Post a notice (Premium, Plus or Basic)

– Add the pre-appraisal to your shopping cart ($ 29,000)

After filling in the basic data of your property and publishing it, the system will automatically generate a PDF with your pre-appraisal.

In addition, you will receive in the document the estimated expenses of the property tax and the approximate notarial expenses for a potential seller and buyer.

More benefits

With this service, which does not correspond to a certified appraisal, you will also obtain data such as:

– Number of real estate offers in your neighbourhood

– Prices per m2 of the other properties with their main characteristics (rooms, bathrooms, garages, etc.)

– Average mt2 price in your neighbourhood

– Geographical location of your property

To consider

– If you are not satisfied with the estimated value given by the pre-appraisal, you can solve any concern with our Customer Service. 

– The sale and rental value of the property is estimated from econometric models with a 95% confidence level, using artificial intelligence techniques.

– Comparisons with similar properties are made from the offers that are available in the market in a period of no more than 30 days.

 

RENTAL PRICE OF A PROPERTY
HOW TO DECIDE THE RENTAL PRICE OF A PROPERTY

How to decide the rental price of a property

Assigning a rental value to a home, office or premises that does not correspond to the market implies risks such as reducing profitability, delaying the closing of a business or worse, never getting a customer. Hence, the importance of this task for which metrocuadrado.com will prepare the following guide.

The ideal is to hire the services of a professional appraiser to determine the rental price and obtain advice on the matter. However, if the owners decide to do it on their own, they must follow the following steps (knowing in advance that by law the canon should not be greater than 1 percent of the commercial price of the house and that in other types of properties there is no stop).

1. Make a form in which you list these data (apply those that correspond to your property)

  • Property type
  • Vetustez (years of construction)
  • Area
  • Stratum
  • The floor where it is
  • Number of bathrooms
  • Number of parking spaces
  • Smart building (offices)
  • Height (cellar)
  • Number of phone lines
  • Conservation status *: a. Excellent, b. Well, c. Regular, d. Bad, e. Terrible (See detail in the footer)
  • Lease price
  • Observations

2. Call to find out about the properties that are for rent in the same area as yours. Ask for all the information on your return and write them carefully.

3. For this task, take into account the properties to which notices are posted on the windows, also those that are published in newspaper classifieds and on metrocuadrado.com and, as far as possible, those that are consigned in a real estate.

4. For your circle to be the closest to reality, the sample taken should not be less than 20 properties.

5. Next, start sorting the properties and select those that have the most similar characteristics to yours.

6. Divide the price of each one by its area and you will get the value per square meter.

7. Then add the prices obtained and divide them by the number of properties used in this exercise.

8. The result obtained will serve as a reference to decide the rental price of your property.

However, the value obtained does not necessarily have to be the one initially requested, since it is important to have a negotiation margin. It is recommended, then, that the base price is 10 above what is expected.

The value of the insurance that may be applicable, in the event that you decide to use them, are additional to the rental value of the property and as such must be clearly specified in the respective contract.

Keep in mind that if you want to lease your property to a bank, government or multinational entity, among others, they may require a professional appraisal, which determines for sure the replacement value and the real -current- price of the good you want. To lease. Professional appraisers take into account all the circumstances that may affect the property such as life span, physical deterioration, and the purpose of the appraisal.

State of conservation of a property. How to rate it?

To. Excellent: Like new. It does not need repairs; paint, bathrooms, floors, kitchen, closets and finishes are in perfect condition.

b. Good: Although it does not require remodelling, minor repairs should be made in paint, electrical outlets, switches, bathrooms, flooring, or other finishes.

c. Fair: Habitable, but requires major repairs to panelling and paint, floors, closets, and/or kitchens.

d. Bad: Not immediately habitable. You have problems with humidity, leaks and the functioning of bathrooms, kitchens and/or laundry rooms.

And. Terrible: Not habitable. Repairs of all kinds must be made: structure, humidity, leaks, networks and/or utility connections.