Charging the right rent at the beginning of a tenancy is Property Management 101, but calculating a rent figure which balances good returns with the right long-term tenant is an art form.
Solid Market Analysis
With rental appraisals based on information from multiple and reputable sources coupled with local knowledge and years of investing experience your rent will be priced to attain the best yields and continuity of rent.
Regular Rent Increases
Rent should be increased annually even if the amount is nominal to align with changes in the market and inflation. Making these rent increases every year, means both the tenant and owner can anticipate and expect the increase making it less of a surprise and budgeting issue.
Futureproofing Rental Returns
Keeping up to date with what is going on in the industry is paramount, especially with all the recent changes to the Residential Tenancies Act and with the introduction of the Healthy Homes Regulations.
Did you know that the Government is currently considering legislating to restrict the amount Landlords can increase rent (to may be as low as inflationary (0.58% in 2021, 1.71% in 2020) increases), making it even more important that rents are at market rent now.