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Rental scoring system

09 May

Have you ever been in a situation when you are renting a property, your lease is about to run out, and you’re wondering whether or not you should move?

Have you ever visited a potential new rental property, and felt really excited about it and signed a new lease, only to realise that you acted impulsively and should have stayed where you were?

Have you ever wished you could have an objective method of comparing two or more properties with each other, instead of making a hot-headed decision, usually after weeks of frustrating but unfruitful brain-storming?

Then, perhaps, the following system is for you. It consists of an Excel spreadsheet with a number of criteria, and a scoring system. The criteria are weighted, so that some of them have a greater importance in the final score. The steps are as follows:

  1. You adjust the spreadsheet, adding or removing items, depending on what you are looking for in an ideal property
  2. You adjust the weights according to which items you think are most important
  3. You print a blank copy and score your current property
    1. Tick the boxes that apply
    2. Multiply the score of that box by the item’s weight
    3. Add up all the weighted scores together
  4. You print a blank copy for each potential rental property you will visit, and score them
  5. You compare the scores of the various properties
My rule of thumb is that the new property must be at least 20 points better than the current one, because of the “hidden” costs of moving that must be taken into consideration (stress, hassle, bond, reconnection of utilities, unknown factors etc.).

Here is the file for free download (no macros)

I hope you find this useful 🙂

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Posted by on May 9, 2011 in Life

 

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