“…The rental value of a residential property is defined as the amount of money paid usually per annum by tenant to landlord for access and usage of the residential property (Aliyu et al, 2012;Larsen, 2012) and is influenced by certain factors such as location, age, structural characteristics and many others (Howley, 2009). The dynamics of rental values depend on the elasticity of both demand and supply of a particular rental space type (Geltner et al, 2006, Lamond et al, 2007Larsen, 2010Larsen, , 2012.…”