Rental value refers to the amount of money that a property could reasonably be expected to generate through rental income. It is the monetary worth or market rate at which a property could be leased or rented out to tenants. Rental value is influenced by various factors, including the property’s location, size, condition, amenities, and prevailing market conditions. Landlords and property owners typically consider rental value when determining appropriate rental rates for their properties, setting lease terms, and maximising the return on their investment. Rental value is also important in legal contexts, such as in landlord-tenant disputes, property appraisals, or real estate transactions, where it may be used to determine fair market value, assess rental income potential, or resolve valuation disputes.
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This glossary post was last updated: 29th March, 2024.
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