Every investor wants to maximise their rental return amount while securing a quality tenant in the shortest possible time. At Gilbert Real Estate we help you balance getting the maximum return for your investment with the minimum vacancy time.
Some important facts about price that you need to be aware of are:
- Any discussion on price should be backed up with UFI - Unbiased Factual
- Information about properties similar to yours that have recently been rented, and those currently for rent.
At Gilbert Real Estate we monitor the rental market and keep a Comparable Market Analysis (CMA) which is like an X-ray of the market place. It is a fact- based report of rents achieved by all agents in this region.
For every week the property sits empty, is rent money that has been missed.
Trying to achieve a rental amount higher than the market is indicating will result in lost income that over the year may equate to a larger loss than starting with a reasonable rent.
Prospective tenants use comparable pricing to determine the value of your home to other homes for rent in the market place. If the price of a property is too high, you risk attracting tenants that do not have the ability to demonstrate their capacity to be a good tenant and therefore have to pay more than market value to secure a rental property, or you will help rent other people’s homes.
In other words your property may attract tenants who are desperate to rent at any price.
When we discuss price with you, we will provide you with a customised market monitor which will enable you to see where about in the market your property is likely to sit.
Most of our landlords choose to seek quality tenants at a reasonable market value to maximise the likelihood of securing a successful long term tenancy.
For further information or to discuss how we can assist you with your property leasing requirements call us on 02 6238 1900 or email firstname.lastname@example.org