Why is a rental income estimate higher/lower than expected?

The rental income estimate tool relies on available market data to give the best estimate of what your property rental income is worth and is indicative only. Often an estimate may be lower or higher than expected because of the uniqueness of that property, the lack of similar rental listings in the area to compare it to, or renovations and cosmetic updates that may not be considered.

If you live in a suburb where there are lower levels of properties being listed for rent, it’s likely there will be less comparable properties in the area with a recent rental price. And if you live in a newly established area, there may not be enough data on property types and rental listings to give an estimate.

Differences in valuations can happen in the following circumstances:

  • If there are data points missing
  • Information about the home, such as land size or the number of bedrooms can be added by following the steps outlined here.
  • The home is unique, so the estimate tool doesn’t have many similar properties to compare it to
  • There are few comparable rental listings in the immediate local area.

To obtain an accurate representation of the market, it is best to seek an appraisal from a local real estate agent. You can connect to a local agent by following the below link:

Rental income estimates are powered by Proptrack, sourced from realestate.com.au and update on a monthly basis. 

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