New online tool provides clarity on rental deals

[SINGAPORE] Tenants and landlords seeking clarity in rental transactions, especially during the peak rental season from May to August, may be able to find support in a new online pricing tool that aims to provide transparency.

The Singapore Real Estate Exchange (SRX), an information exchange formed by real estate agencies, yesterday launched Rental X-Value, a computer-generated estimate of a home's rental value, on its website.

Described as the first-of-its-kind in Singapore, the pricing feature draws on data from more than 30 public and private sources and is based on algorithms developed in partnership with academics, government agencies and valuers.