Dwelling—market rent value, total Australian currency N[NNNNN].NN
Data Element Attributes
Identifying and definitional attributes | |
Metadata item type: | Data Element |
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Short name: | Market rent value of dwelling |
METEOR identifier: | 270196 |
Registration status: | Housing assistance, Retired 01/05/2013 |
Definition: | The rent that would be charged for a dwelling in the private rental market, in dollars and cents. |
Data Element Concept: | Dwelling—market rent value |
Value Domain: | Total Australian currency N[NNNNN].NN |
Value domain attributes | ||
Representational attributes | ||
Representation class: | Total | |
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Data type: | Currency | |
Format: | N[NNNNN].NN | |
Maximum character length: | 8 | |
Unit of measure: | Australian currency (AU$) |
Data element attributes | |
Collection and usage attributes | |
Collection methods: | The optimum method of assigning a market rent value to a dwelling is to have it assessed by the Australian Valuation Office (or another independent valuer). Preferably each dwelling should be re-assessed every 2 years as market rent values can change substantially over time. In some larger jurisdictions a sample of houses are periodically assessed for their market rent value as it is not practical to assess every dwelling. Market rent is typically recorded on a weekly basis, and for the public rental housing and state owned and managed Indigenous housing data collections, is recorded as market rent value for which a rent was charged for the week of 30 June. |
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Comments: | Guidelines should be developed for assessing the market rent of modified dwellings (as for disabled and frail aged people) and dwellings in remote areas where there is not usually a private rental market. One option could be to calculate the cost of replacing the dwelling, then using a percentage of that as the market rent. However in remote areas where building costs can be high, this method could lead to inappropriately high market rents. |
Source and reference attributes | |
Submitting organisation: | National Housing Data Development Committee |
Relational attributes | |
Related metadata references: | Is re-engineered from Market rent value of dwelling, version 1, DE, NHADD, NHDAMG, Superseded 01/03/2005.pdf (14.9 KB) No registration status See also Household—rebated rent status, code N Housing assistance, Standard 30/08/2017 See also Household—rebated rent status, code N Housing assistance, Superseded 30/08/2017 See also Household—rent charged (weekly), total Australian currency N[NNNNN].NN Housing assistance, Superseded 30/08/2017 |