1. What is the Rent Estimate Calculation?

The Rent Estimate calculation provides an average of comparable NSW rents adjusted for property features. Despite the California reference in the name, this calculator is specifically designed for NSW (New South Wales) rental market.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Comparable NSW Rents — Average rent of similar properties in the area (AUD)
• Features Adjustment — Percentage adjustment based on property features (%)

Explanation: The calculation adjusts comparable rents based on the property's unique features to provide a more accurate estimate.

3. Importance of Rent Estimation

Details: Accurate rent estimation is crucial for landlords setting competitive prices and tenants evaluating fair market value.

4. Using the Calculator

Tips: Enter comparable NSW rents in AUD and feature adjustment percentage. All values must be valid (rent > 0).

5. Frequently Asked Questions (FAQ)

Q1: Why does it mention California?
A: This is a misnomer in the calculator's name - it's actually designed for NSW rental market calculations.

Q2: What are considered comparable rents?
A: Rents for properties with similar size, location, and amenities in the NSW area.

Q3: How are features adjustments determined?
A: Features like parking, views, renovations, or amenities can adjust the base rent up or down.

Q4: How current should the comparable data be?
A: Ideally within the last 3-6 months to reflect current market conditions.

Q5: Can this be used for commercial properties?
A: This calculator is designed for residential properties only.