The methodology of housing rent cost, developed by CESSI, consists of 2 stages.
Stage 1. Collection of high quality information about condition of rent market in the city from secondary data, preparation of lists of main housing agencies in the city
Stage 2. Interviews with housing rent agencies using “Mystery shopping” methodology.
• The single standardized procedure of data collection allows to make reliable time comparisons and forecasts, as well as inter-city comparisons
• Precise evaluation. This methodology allows to receive direct measured data on housing rent cost (“real cost for real client in concrete moment”, but not the theoretical abstract cost or evaluation from reviews, secondary data, data of city statistics or expert interview of real estate specialists)
• The offer of housing for rent of definite type is taken into consideration
• The measurement is more reliable due to usage of various sources (different agencies), that’s why one is not relying on the individual experience of concrete agencies only
• The data is collected using standard parameters (same time period, same conditions – see below), which is very important to define average costs.
• We use the following criteria to select housing for rent. We developed them using the analysis of factors which influence on the cost of housing rent: quality of interior, total condition of the building, type of housing, length of rent, equipment in the apartment, structure of the cost (what it includes):
• Good condition of housing, quality of interior
• Type of building (old bricks building or the new house)
• Apartment with furniture and domestic appliances
• Not at the 1st floor
• Rent for 1 year and longer
• Cost of communal services is not included into the cost
• Cost of real estate agency services is not included into the cost
We include the housing statistics for the city, structure of real estate market, average cost for rent, minimal and maximal cost into the report. We also compare the prices in the city with Moscow prices (where Moscow prices are 100%) and include the change of prices comparing to previous measurement.