This calculator helps you estimate a competitive market rent for your property. By considering factors like location, property features, and local market conditions, you can set a rental price that attracts tenants while maximizing your return.
Apartment
House
Townhouse
Condo
Studio
.market-rate-rent-calculator {
font-family: sans-serif;
border: 1px solid #ccc;
padding: 20px;
border-radius: 8px;
max-width: 500px;
margin: 20px auto;
background-color: #f9f9f9;
}
.market-rate-rent-calculator h2 {
text-align: center;
color: #333;
margin-bottom: 15px;
}
.calculator-inputs {
margin-bottom: 20px;
}
.form-group {
margin-bottom: 15px;
display: flex;
align-items: center;
gap: 10px;
}
.form-group label {
flex: 1;
font-weight: bold;
color: #555;
}
.form-group input[type="number"],
.form-group select {
flex: 1.5;
padding: 8px;
border: 1px solid #ddd;
border-radius: 4px;
box-sizing: border-box;
}
.form-group input[type="number"] {
width: 100%;
}
button {
display: block;
width: 100%;
padding: 10px;
background-color: #4CAF50;
color: white;
border: none;
border-radius: 4px;
font-size: 16px;
cursor: pointer;
transition: background-color 0.3s ease;
}
button:hover {
background-color: #45a049;
}
#result {
margin-top: 20px;
padding: 15px;
background-color: #e7f3fe;
border: 1px solid #b3d7f7;
border-radius: 4px;
text-align: center;
font-size: 18px;
color: #333;
}
#result strong {
color: #2e7d32;
}
function calculateMarketRent() {
var propertyType = parseInt(document.getElementById("propertyType").value);
var bedrooms = parseInt(document.getElementById("bedrooms").value);
var bathrooms = parseFloat(document.getElementById("bathrooms").value);
var squareFootage = parseInt(document.getElementById("squareFootage").value);
var amenitiesScore = parseInt(document.getElementById("amenitiesScore").value);
var locationFactor = parseFloat(document.getElementById("locationFactor").value);
var recentRenovations = parseInt(document.getElementById("recentRenovations").value);
var baseRatePerSqFt = 1.5; // A general baseline rate per square foot, can be adjusted
// Adjust base rate based on property type
if (propertyType === 1) { // Apartment
baseRatePerSqFt = 1.6;
} else if (propertyType === 2) { // House
baseRatePerSqFt = 1.4;
} else if (propertyType === 3) { // Townhouse
baseRatePerSqFt = 1.5;
} else if (propertyType === 4) { // Condo
baseRatePerSqFt = 1.55;
} else if (propertyType === 5) { // Studio
baseRatePerSqFt = 1.7;
}
// Basic rent calculation based on size and base rate
var rentEstimate = squareFootage * baseRatePerSqFt;
// Adjust for bedrooms and bathrooms
rentEstimate += (bedrooms * 50); // Add $50 per bedroom
rentEstimate += (bathrooms * 75); // Add $75 per bathroom
// Adjust for amenities (each point adds ~2% of base rent)
var amenitiesAdjustment = (amenitiesScore – 5) * (rentEstimate * 0.02); // Adjusting based on a midpoint of 5
rentEstimate += amenitiesAdjustment;
// Adjust for location factor
rentEstimate *= locationFactor;
// Adjust for recent renovations (e.g., $200 for each year within the last 5 years)
var renovationAdjustment = 0;
if (recentRenovations > 0 && recentRenovations <= 5) {
renovationAdjustment = recentRenovations * 200;
rentEstimate += renovationAdjustment;
}
// Ensure we don't have NaN results
if (isNaN(rentEstimate)) {
document.getElementById("result").innerHTML = "Please enter valid numbers for all fields.";
return;
}
// Display the result
var formattedRent = rentEstimate.toFixed(2);
document.getElementById("result").innerHTML = "Estimated Market Rent: $" + formattedRent + " per month";
}