Hayden Gay,
Sales Agent at Image Property.
What’s the right price for your rental property?
[lwptoc]The greater Brisbane rental market is currently experiencing a surplus of stock, meaning that tenants are spoilt for choice.
Image Property experiences the greatest amount of enquiry within the first two weeks of a property being listed online. At times like this it is essential to seriously consider the price you place on your rental property in order to minimise vacancy and maximise your profits from the outset.
Our Property Managers have an extensive knowledge of the Brisbane market and their allocated regions, as well as access to restricted information regarding comparable properties that have been recently leased in the area. They are experts at pricing rental properties in accordance with their features, their location and the current market.
To ensure our clients’ properties are priced appropriately, Image Property implements a 5-step property appraisal process to ensure we achieve our expected listing price range in a timely manner.
The process takes into consideration the suburb’s current vacancy rate, median rent achieved and stock levels in that particular suburb and its surrounds. We compare the suburb’s performance over the last three months and assess our results in terms of the time we took to place quality tenants into our properties in that area.
The process allows us to:
- List at a realistically achievable figure, without undervaluing the property
- Attract a quality tenant
- Minimise vacancy
- Maximise profits and minimise losses.
Everyone wants the most out of their investment property and would love to achieve top dollar – but at the expense of what?
Image Property is here to provide advice and help to ensure your property is ready for market and to make your 52-week yearly return look as healthy as possible.
For your rental appraisal or property health report, please get in touch with Image Property today.
