On Nantucket, Craig Hawkins, a broker with Maury People, a Resort Quest company and a Sotheby's affiliate, which has more than 1,000 rental houses on its roster, said the gross value of rentals had already outstripped those of last year by $100,000.
By 5 to 1, the Court of Appeals said that the law provided a valid tool for use by housing regulators when determining assessed values of rental properties and the increases on rent-controlled units that landlords deserved.
"That way, the amount on the lease remains unchanged, and thus the value of the rental dwelling," he said.
Real estate listings show that similar apartments in the area generally sell for about 8,000 euros a square meter ($1,193 a square foot), which would put the sale value of her rental over 3 million euros ($4.78 million).
Stockholders of Sperry Rand found this out in 1965 when the company suddenly wrote off $14 million of the value of its rental computers.
Blackstone is borrowing against the value of its rental portfolio, this month raising $48 million for 177 houses in Florida.
A little landscaping around the house's exterior also increases the value of the rental.
And in the first six months of 2003, the value of DVD rentals at video stores outpaced VHS tape rentals for the first time, according to the Video Software Dealers Association.
She finds that the older you are the worse off you will be if your house declines in value (fewer years of rental payments to add up).
The ultimate result, Mr. Dobkin said, was that the market values of large rental properties often ended up being lower -- but more accurate -- than they would have been using the single ratio formula.
