When renting out your property your first consideration may be the amount of rent to charge. Rental amounts normally do shift over the course of a standard 12-month lease as the market changes, and so it’s good to periodically review the rent on your property.
There are numerous articles with information about how to establish the rental amount for your investment property. These generally suggest looking at comparable property rental prices, assessing vacancy rates in the area, accessing rental shifts over the preceding 12 months, calculating a percentage of the property value. Whilst it is true that all these factors contribute to the rental amount a property can fetch, it is also not feasible for most private landlords to spend so much time researching all of this.
Rent Street can provide you with a rental report which will show you how much rent to charge. This report is based on software that most real estate agents themselves use for appraising a property. There is no cost for this report; it’s included in both Rent Street’s packages. The report will also have information about your suburb, comparable properties, and an indication of how accurate the rental estimate is (based largely on how many comparable properties there are).
