Investors of course want to minimise vacancy in their rental properties. However many investors tend to wish to hold out for a higher rental return rather than fill their property (and start receiving income!) more quickly.
In this post we'll run through a real example of the outcome of holding out for higher rent, based on a property in the Newcastle area which we had proposed to manage. Details of circumstances are contained in the text, but if you want to cut to the chase, you can scroll to the table at the end of the post.
There are many factors which influence how long a rental property may remain on the market before a suitable tenant is found. Some of these relate to the property itself, others to the agent selected to list the property, and others to the rental market at the time of listing.
While the following list is not exhaustive, it provides a good starting point for understanding the reasons impacting how long a property may remain on the market, and what can be done to up the pace.
A fundamental aspect of owning an investment property is knowing when and how to appropriately increase the rent. There are many things to consider before deciding to raise the rent, including understanding your legal obligations and how to minimise the likelihood of losing the current tenant.
"Can I do a rental appraisal on a property myself?" is a question commonly asked by investors. There are many ways to obtain an approximate rental estimate on a property you own or are considering purchasing.
But these methods are not without their shortcomings. In this article we go through the top 3 mistakes investors make when estimating rental return themselves.
There are many options to potential investors looking to build wealth or financial independence: shares, bonds, additional super contributions, terms deposits, and countless others.
In this article we're going to take a look specifically at the pros and cons of investment property. This is a guide only and you should discuss your individual circumstances with your accountant and/or financial advisor before taking any action.
When looking to rent out an investment property, landlords with inevitably ask "How much rent do you think I can get for it?". We covered the intricacies of attempting to work this out yourself in the article What Can I Rent My House Out For?
Unfortunately, in efforts of wooing a prospective landlord, some real estate agencies will provide an inflated and at times unrealistic estimate of rental return. In this article, we wanted to break down what this means for the landlord.
"How much rent should I charge for my house?" is a question asked by every landlord for every property. While there are some factors you can take as indicators of the rental value of your home, there are many aspects you won't be able to pull from an online search or rental value report. Experience in interpreting the history and trajectory of the rental market in your suburb is key - and understanding exactly where your home fits into the mix.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Newcastle real estate agent offering expert property management across Newcastle and Lake Macquarie.
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