How much will my property rent for?
This is every investor’s top question. Performing searches on realestate.com.au or domain.com.au may be an acceptable way to gauge comparable properties, but they aren’t the final word on how your property should be priced when it’s ready for market.
Image Property Management has access to market industry data software that allows us to create a Comparative Rental Analysis (CRA) before you advertise your property. A CRA provides a much more in-depth market analysis of similar properties, including their exact rental amounts and how long it took for them to be rented.
Most importantly, the CRA shows the difference between original advertised prices and the actual subsequent rents, often showing a significant gap between the two.
Current rental listings may provide some superficial insight into comparable properties, but they are most often a far cry from actual reality. Substantial discrepancies between advertised prices and actual rents more accurately reflect the facts behind the nuanced and ever-changing real estate market. Equally critical is how long it takes similar properties to rent—an especially important factor if your property has been sitting vacant.
By providing the crucial data of a thorough CRA on your properties, we can help maximum rents to match exactly what the market is willing to pay at any given time.