HOW MUCH RENT
To determine how much rent you can charge for your property, you will need to assess the market rent - in other words, how much money similar properties in your area are renting for.
A good place to start is to carry out some research online. It is important to pay attention to the requested prices, as well as how long the properties stay on the market at those rates.
At LJ Hooker Ponsonby, we can provide you with plenty of useful information on comparative rentals in the area. We can also advise you of your suburb’s vacancy rate: increasing your rent may turn off existing or prospective tenants who could find a similar property at a cheaper rate.
You should also consider whether you want tenants to pay for upkeep such as lawn mowing or pool maintenance as part of the tenancy agreement – this will be a factor for tenants in setting their own budget.
And before advertising your property, ensure it is well presented – change the washers on dripping taps, clear weeds and clean gutters.
Your LJ Hooker Ponsonby property manager is the best placed real estate expert to help you maximise the potential of your investment.
WANT TO FIND OUT HOW MUCH YOU SHOULD RENT YOUR PROPERTY?