What is the right rent to charge for your rental property?
The Ipswich rental market is known to experience surpluses of stock from time to time, sometimes impacting specific suburbs or wider areas. In these situations, it is the tenants who are spoilt for choice.
A real estate agency experiences the largest amount of enquiry within the first two weeks of a property being listed online. Prior to advertising, and during times of high supply, it is important that you consider the price you place on your rental property in order to minimise vacancy, while maximising the profit from the beginning.
Our team have an extensive knowledge of the Ipswich and surrounding markets including Springfield Lakes, Forest Lake, Fernvale and Ripley. We can also provide information on properties that have recently been leased in each area.
An appropriate process for determining rent should take into consideration the areas current vacancy rate, the rent being achieved and relevant stock levels in that particular suburb and its surrounds. We compare the suburb’s performance over the last three months to provide further insight into recent tenant placements.
The process allows us to:
- List your property at an achievable rent figure, without undervaluing the property
- Attract a quality tenant for your property
- Minimise vacancy times
- Maximise profits achievable.
Collins Gregory Real Estate is here to provide you with quality advice and to help ensure that your property is ready for market and to make your yearly return as healthy as possible.