Using a Rental Appraisal to Secure Good Tenants
By ensuring that your property is being offered at an appropriate market rate, landlords are better able to secure and retain good tenants. Furthermore by maximizing the best level of rent, landlords ensure the best returns. At Home Property Management conducts regular rent reviews.
Though you do not want to charge a rent level that is too low and miss out on returns, you also do not want to charge too much rent either! It can be tempting to ask for a high price on a rental property, but there are pitfalls to charging prices that are higher than acceptable market rates. Cases like these may secure desperate tenants, and also run the risk of a Tenancy Tribunal hearing. This type of challenge at a Tenancy Tribunal can incur a penalty. Furthermore rents above market rates incur longer vacancy rates and therefore impact your annual returns.
If you have any doubts about the rental levels of your properties, At Home Property Management offers free rental appraisals to all Clients who sign our one year management authority
This will help you as a landlord to:
- Ensure you are maximising your rental returns
- Avoid vacancy rates, downtimes and loss of rent
- Avoid disputes at the Tenancy Tribunal
Our free rental appraisals are reserved for folks who engage our property management services. For all bank required or personal appraisals there is $50 plus GST charge per appraisal. Simply email us property details eg how many rooms, bathrooms etc and a few photos and we will email back a rental appraisal once we have recived your payment. At Home reserves the right to refuse to supply an appraisal.
Gregory Young
NZQF Residential Property management Level 4 / Licensed Agent REAA 2008
Phone: 022 303 3449
NZQF Residential Property management Level 4 / Licensed Agent REAA 2008
Phone: 022 453 2019