Average Weekly Rent
When you’re choosing an agency to manage your investment, one of the questions you need to ask them is what are their average weekly rents in that suburb? We consistently achieve above average weekly rents for suburbs in which we lease and manage properties. So, how do we do it?
Well, when we’re asked by an owner to recommend the rental price on their investment property, it’s imperative that we are up to date with the current market conditions in that suburb. Our team conducts research every Friday, on the rental market across the northern suburbs. This involves them comparing: what is currently for lease across that suburb; average prices for different sized properties; what properties have leased or been put on the market for lease; what has had price reductions and comparing all of that against the properties we are currently leasing in that suburb. This is one way to ensure our properties remain competitively priced whilst they are on the market. It also ensures we are making every attempt to maximise the owner’s return on their investment (the rental yield). After all, that’s the reason they have invested in property!
So what rents do some of our top leasing suburbs achieve? Well for Hillarys, at the time of going to market, the average rent per week for a 4 x 2 is $550. The average weekly rent for a 4 x 2 in Hillarys with LISTED Estate Agents is $589. In Craigie, the average rent per week for a 4 x 2 is $375, our average rent per week for a 4 x 2 is $505 and in Darch, the average rent for a 4 x 2 is $450, ours is $497.
If you’d like us to safeguard the rental yield on your investment property, call me today for more information – (08) 9307 0999.