1. What is the Rent Estimate Calculator?

The Rent Estimate Calculator provides an estimated rental value for properties in Canberra City by averaging comparable rents and adjusting for property features.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Comparable Rents — Recent rental prices of similar properties in Canberra City
• Feature Adjustments — Value adjustments for special features or differences

Explanation: The calculator averages 3 comparable rents and allows for adjustments based on property features.

3. Importance of Rent Estimation

Details: Accurate rent estimation helps landlords set competitive prices and helps tenants evaluate fair market value for properties in Canberra City.

4. Using the Calculator

Tips: Enter 3 comparable rental prices from similar Canberra City properties. Add positive adjustments for superior features or negative adjustments for inferior features.

5. Frequently Asked Questions (FAQ)

Q1: Where can I find comparable rents?
A: Check recent rental listings in Canberra City for similar properties in terms of size, location, and features.

Q2: How should I determine feature adjustments?
A: Adjust based on market value differences - for example, add $20/week for a parking space or deduct $30/week for an older kitchen.

Q3: How many comparable rents should I use?
A: While the calculator uses 3, you can run multiple calculations with different comparable sets for better accuracy.

Q4: What factors affect Canberra City rents?
A: Location within Canberra City, property size, age, condition, amenities, and proximity to services/university.

Q5: How often should I re-estimate rent?
A: Re-evaluate every 6-12 months or when comparable market rents change significantly.