Just as there is a range of variables that determine the market value of a property being marketed for sale, so too are there similar variables at work when setting the rental price for an investment property. Tenants have the same needs and wants as purchasers, so whatever makes a property attractive to a purchaser in a particular area will most likely be the criteria for a prospective tenant.
Want the Best Rental Price? Get a Good Property Manager In Campbelltown
For owners to get the best rental price for their property, they need a good property manager who knows the local market. Every owner naturally wants the highest rent they can get for their property, but if they ignore the advice of their property manager, they risk it being unoccupied. Our property management staff members at Prudential Real Estate Campbelltown are industry professionals who research current rentals and conditions to get the best result for our clients.
The biggest mistake an owner can make is to over-commit to a large mortgage then ask for a rental price far over market value to cover it. If they are listening to their property manager, they will realise that this is unrealistic, and agree on a rental price that will attract a good tenant who will look after their investment and pay their rent on time.
Good Tenants Drawn to Tidy, Attractive Properties
To get this type of tenant, owners need to make their property more attractive than comparable properties in their local area. Simple things like having the lawns and gardens tidy, removing rubbish, freshening up the exterior with a coat of paint or even just cleaning it will increase the number of people wanting an inspection.
Think of it from a tenant’s point of view. They are prepared to pay top dollar for their rental if it meets their criteria. From our experience we know that these criteria include a tidy, clean and well-maintained property close to essential services in a desirable location.
Storage Space is Important for Tenants
Tenants want their possessions close at hand, and not in a storage facility across the other side of the city. Rental properties with plenty of cupboard and storage space where everything can be kept neatly out of sight until needed are an attractive proposition for a tenant.
Like Life’s Home Comforts? So do Your Tenants
Tenants are also prepared to pay for dishwashers, reverse-cycle air conditioners, heaters and ceiling fans. These are now standard fittings in most private homes. They are no different from home owners in wanting the convenience and comfort these things provide, and they will pay extra to have them.
Our property managers in monitor the prices of comparable properties that have recently been let, so we know what is possible for your rental property. Let the experts at Prudential Real Estate manage your investment in Campbelltown and you will always get the best market price for the time.