Real Rental Estimates Needs evidence, not just experience!
One of the worst habits that many real estate agents fall into is relying on their experience, rather than real evidence to provide estimates to people about the value of their property.
There may also be a willingness to overstate the value to a prospective client. Ask your agent to provide examples with their estimate.
It is much easier to tell you what you want to hear, rather than what you need to hear. Our rent valuations are based on comparative market assessment. We take into consideration other similar properties, in conjunction with the current market trends. The market may change quickly, and the value of your property moves with those trends. The value is also largely influenced by supply and demand.
You can be assured that we will set your rent valuation at a level that we are confident can be achieved.
If you are willing to seek a higher rental, then we will start the advertising campaign at the higher lever. With the clear understanding that if there are no prospective tenants who are willing to pay that level that we drop the price quickly.
There are times that applicants will offer a higher weekly rent than advertised. They do this as an incentive to you the property owner to choose them from among the many applicants.
While you are considering what agents are talking with you about your investment, give some careful consideration to whether you are being given a price that you want to hear, or one that is confirmed with evidence of other similar properties in the area.
We will never over quote just to get your business Real Rent Values based on empirical data.
Rental Property Photo at 64 Glenvale Road Ringwood North. 2015