You can be confident that our office understands the importance of rental returns on your investment and for this reason we are constantly monitoring the market rent on your behalf.

When a tenant vacates or a tenancy agreement is renewed, we automatically carry out fair market rent reviews to ensure that we are maximising your income.

If a rent increase is justified we will discuss this with you to seek your approval.  When negotiating a rent increase it is important to note that there are legislated notice periods that we must adhere to.

What we look at when carrying out a rent increase

• Current rental prices of similar properties
• Supply and demand of tenants and properties
• Council rate increases
• Interest rate increases
• CPI increases
• Date of the last rental increase
• Tenant feedback during the negotiations
• Maintenance or renovations undertaken or requested

Supply and Demand

As you can appreciate, rental increases are often controlled by the supply and demand of tenants and properties.  If there are more rental properties available compared to tenants then increasing rent may not be justified.  However, if there is a shortage of rental properties, then rents will generally rise.

It often comes down to negotiations

When managing rental increases on your behalf we must balance the emotions and reaction of the tenant with maximising your income.

When negotiating with tenants we may need to look at accommodating recent requested improvements or renovations or simply find a happy medium.

In some situations it may not be worth losing a quality tenant for an extra $10 per week, if it results in a possible vacancy period of a couple of weeks.

You can be assured that we are in the business of maximising your income and will discuss with you any issues that may arise during the rental increase process.