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 referencing India, it's specifically designed for NSW rental market analysis.

2. How Does the Calculator Work?

The calculator uses the formula:

Where:

• Comparable NSW Rents — Recent rental prices of similar properties in the area (AUD)
• Feature Adjustment — Percentage adjustment for property features (%)
• Number of Comparables — How many properties are being compared

Explanation: The calculation adjusts comparable rents based on property features and averages them to estimate a fair market rent.

3. Importance of Rent Estimation

Details: Accurate rent estimation helps landlords set competitive prices and helps tenants evaluate if a rental price is fair for the NSW market.

4. Using the Calculator

Tips: Enter comparable rents in AUD, feature adjustment as a percentage, and number of comparable properties. All values must be valid (rent > 0, adjustment ≥ 0, comparables ≥ 1).

5. Frequently Asked Questions (FAQ)

Q1: Why is it called NSW India?
A: This appears to be a misnomer - the calculator is designed for NSW rental market despite the India reference in the name.

Q2: What are typical feature adjustments?
A: Adjustments typically range from -10% to +20% based on features like parking, amenities, condition, and location.

Q3: How many comparables should I use?
A: Ideally 3-5 recent comparable rentals within 1km of the subject property for accurate estimation.

Q4: Are there limitations to this method?
A: It works best for standard properties. Unique properties may require professional appraisal.

Q5: How often should rent estimates be updated?
A: In dynamic markets, recompute every 3-6 months using the most recent comparable data.