AU Australia property term
Rental Appraisal
Western Australia
Plain-English definition
An estimate of the rent a property could achieve in the current market, usually prepared by a property manager or agent.
Why this matters to a foreign buyer
Treat it as an opinion, not guaranteed income. Ask for recent comparable leases, expected vacancy, management costs and any assumptions about furniture or improvements.
A rental appraisal is an agent or property manager’s estimate of the rent a property could achieve in the current leasing market. It is useful evidence, but it is an opinion rather than guaranteed income or a formal valuation.
What supports a reliable appraisal
A useful appraisal should refer to recent comparable leases, the suburb, property type, condition, bedroom and parking mix, furnishing, expected vacancy and the date of the assessment.
Why estimates can differ
Agents may use different comparables or assumptions, and market conditions can change between purchase and leasing. An appraisal prepared to support a sale should be tested independently rather than copied directly into an investment forecast.
Rental appraisal versus GRV
A rental appraisal estimates current market rent. Gross Rental Value is a Landgate rating valuation used by authorities. Investors should not use GRV as a substitute for current leasing evidence.
Frequently asked questions
Is a rental appraisal guaranteed rent?
No. It is an estimate based on market evidence and assumptions, and the achieved rent may be higher or lower.
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