Representative List of Rents

Definition

A means of summarizing the rent prices of apartments in a particular that match defined geographical and infrastructural criteria.

During this process, certain characteristics of the rental object, such as location and fixtures and fittings, are evaluated and used for determining the standard local comparative rent. If the characteristics of rental objects were valuated, then this is a qualified representative list of rents. In contrast to this procedure, a non-qualified representative list of rents determines comparative rent solely based on the existence of the given characteristic.

Use

You use the representative list of rents to automatically adjust the conditions of contracts or rental objects. The system calculates a new comparative rent which it then proposes during rental adjustment.

Structure

Representative list of rents are tied to the locality and are formed differently. They mainly consist of tables and formulas that provide values for the following characteristics:

  • Construction year

  • Residential location

  • Size

  • Fixtures and fittings category

  • Other influences such as fixtures and fittings characteristics (these can also be given points as scores, if the representative list of rents allows this)

Integration

The representative list of rents is assigned at the business entity level.