So if the property is not being rented out, the rent will be similar to comparable properties listed for rent or similar to the current median or average rent for the property type and number of beds in the given area.
I see. so your software algorithm works like this:
search for realestate.com.au,
- if found rented $$ RE advertising, use this value against the listed property price
- if no rented $$ found in RE advertising, use 95% of median rent for the suburb for the same number of rooms.
does this sound about right?
In my view, yes having newbie subscribe to your site and feed them properties may not benefit them as it is more spoon feeding them. I understand you only look for the properties, and up to them to do the next DD, but initial and how to search is a big and important part of DD.
But for me, I will find it immensely helpful if I have a tool that can search say for example
-- search for all QLD property returning above XX%
-- result in a xls or web page, which has direct link to RE.com.au, that I can perform my own DD
You must admit if there are total 20,000 active listings in a State, but after you put your search criteria, it narrow down to 1000. And if you do further filter to remove mining towns etc, it come down a relative small manageable listing, wouldn't that life be easier.
Yes I am looking to develop a tool like this, but No not for commercial use
