Are you doing this with your investment property?
With the way the rental market is right now, there’s something you need to be doing every six months.
You must be reviewing the rent on your investment property every six months.
Now, this doesn’t mean that you increase the rent every six month.
Not at all.
In fact, if you have tenants on a fixed term lease, you can’t increase the rent during their fixed term.
But you do need to keep an eye on where your property is sitting in the rental market, so that you’re planning to maximise your rental returns.
So what’s the best way to do this review?
Your property manager will probably do this for you. And if we manage your property, this is the process we follow.
Each time we inspect your investment property, we conduct a full review of your property, compared to other properties in the rental market.
We look at what rent we could achieve for you, if your property was on the market right now.
And then, when we send you the full inspection report, we’ll show you the rent review at the same time.
So, if you haven’t received a rent review on your investment property in the last 6 months, send us a DM so we can help arrange this for you!