1. What is the Rent Estimate?

The Rent Estimate calculates the average of comparable rents in Selangor to help determine a fair market price for rental properties. It provides a data-driven approach to pricing your rental property.

2. How Does the Calculator Work?

The calculator uses a simple average formula:

Where:

• Comparable Rents — Similar properties in the same area with similar features
• Average — Sum of all comparable rents divided by the number of comparables

Explanation: The equation takes into account current market rates for similar properties to estimate a fair rental price.

3. Importance of Rent Estimation

Details: Accurate rent estimation is crucial for property owners to remain competitive in the market and for tenants to ensure they're paying a fair price.

4. Using the Calculator

Tips: Enter at least 2 comparable rents in MYR (Malaysian Ringgit). For best results, use recent rental prices of similar properties in the same neighborhood.

5. Frequently Asked Questions (FAQ)

Q1: How many comparable rents should I use?
A: While the calculator requires a minimum of 2, using 3-5 comparable rents will give you a more accurate estimate.

Q2: What makes a good comparable rent?
A: Look for properties with similar size, location, amenities, and condition that were rented recently (within 3-6 months).

Q3: How often should I update my rent estimate?
A: It's recommended to review your rent estimate at least once a year or whenever market conditions change significantly.

Q4: Should I include outliers in my calculation?
A: No, extremely high or low rents that don't reflect the general market should be excluded as they can skew your estimate.

Q5: Does this work for all property types in Selangor?
A: This calculator works best for residential properties. Commercial properties may require different valuation methods.