Setting rents in residential real estate: a methodological proposal using multiple criteria decision analysis

Setting rents in residential real estate: a methodological proposal using multiple criteria decision analysis

The real estate sector has been negatively affected by the recent economic recession, which has forced structural changes that impact property value and price. Recent pressures have also motivated reduced liquidity and access to credit, causing a drop in property sales and, thus, boosting the rental...

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Bibliographic Details
Published in:International journal of strategic property management Vol. 19; no. 4; pp. 368 - 380
Main Authors: Canas, Sílvia R. D, Ferreira, Fernando A. F, Meidutė-Kavaliauskienė, Ieva
Format: Journal Article
Language:English
Published: Vilnius Vilnius Gediminas Technical University 01-12-2015
Taylor & Francis
Subjects:
Analysis
Decision making
Decision support
Decision support systems
Economy
Housing
Multiple criteria analysis
Multiple criteria decision making
Real estate
Real property
Rental definition
Rental housing
Rentals
Rents (Property)
Residential rental
Valuation
Rental definition
Residential rental
Real estate
Multiple criteria analysis
Decision support
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Summary:The real estate sector has been negatively affected by the recent economic recession, which has forced structural changes that impact property value and price. Recent pressures have also motivated reduced liquidity and access to credit, causing a drop in property sales and, thus, boosting the rental housing market. It is worth noting, however, that the rental housing segment is not with-out difficulties and complexity, namely in terms of legislation and rental value revaluation. In light of this reasoning, this study aims to develop a multiple criteria decision support system for calculation of residential rents. By integrating cognitive maps and the measuring attractiveness by a categorical based evaluation technique (MACBETH), we also aim to introduce simplicity and transparency in the decision making framework. The practical implications, advantages and shortfalls of our proposal are also analyzed.
ISSN:1648-715X
1648-9179
DOI:10.3846/1648715X.2015.1093562