1. What is the Rental Calculator?

The Rental Calculator estimates rent for NSW properties by averaging comparable rents adjusted for property features. Despite the name reference to Canada, this calculator is specifically designed for NSW rental market.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Comparable NSW Rents — Recent rental prices of similar properties in the same area
• Feature Adjustment Factor — Multiplier accounting for differences in property features

Explanation: The equation calculates the average of three comparable rents and adjusts for unique 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.

4. Using the Calculator

Tips: Enter three comparable rental prices in AUD and a feature adjustment factor (typically between 0.9 and 1.1 depending on property features).

5. Frequently Asked Questions (FAQ)

Q1: Why does the name mention Canada?
A: This is a historical naming artifact - the calculator is specifically designed for NSW rental market despite the name.

Q2: What are good comparable rents?
A: Choose recent rentals of similar properties (same bedrooms, bathrooms, location) within the past 3 months.

Q3: How to determine feature adjustment?
A: Use 1.0 as base. Increase for superior features (e.g., 1.05 for renovated kitchen), decrease for inferior features.

Q4: How many comparables should I use?
A: Three is standard, but more can provide better accuracy if available.

Q5: Does this account for market trends?
A: No, this is a static calculation. For trending markets, consult recent market reports.