Ways to increase the rent?

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waynel2
Member
@waynel2
Join Date: 2004
Post Count: 311
June 23, 2004 - 1:09 am
Hi Guys,
Thanks for your replies!
Thecrest – what your saying makes sense:) I think I’ll go with that – i’ll put the rent up to $175 – then in the summer approach her about the air conditioner etc.
cheers guys!
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)
elika7264
Member
@elika7264
Join Date: 2003
Post Count: 160
June 24, 2004 - 4:37 pm
Hi,
putting in an air conditioner or dishwasher is Ok but don’t forget these items depreciate over time, may require repair or replacement.[thumbsdownanim Adding up to additional cost for you without necessarily adding any value to the property. The one exception – air conditioning in Qld is a definite must do. Basically you should be increasing your rent every 12 months — not heaps but by a small amount to compensate for your additional costs in running the house — at a minumum CPI. If you want to increase the value of the house then consider some cosmetic touches — fix up the garden and put in a bbq; redo the bathroom or kitchen — it may be possible to buy second hand items and have a competent builder/tradesman install it therby reducing your costs.
Contact a few local agents and state that you plan to move into the area; find out what the going rate is for a comparable property. If time permits, visit a few houses to see that you are comparing apples with apples.
All the best.[biggrin]
david e-noosa
Member
@david-e-noosa
Join Date: 2004
Post Count: 27
June 30, 2004 - 9:59 am
Marc said “The RE agent seems to believe that rent increase can only be the result of some improvement on the place”
Lazy agent who sounds like they do not remmeber who they work for.
Rent increases should be raised to meet the market and the best time is when changing tenants. Specially if demand is higher than supply as it genarally is in my area. You will find however that there will be a ceiling that is difficult to get beyond, you will know it when you hit it. Here it is $300/wk.
Having just found this forum I find so many topics I would like to reply to but as usual time gets the better of me. I will try to check in each evening and inject where I can LOL even if its not agreed with [suave]
David J
Licenced Agent/Sales Manager
http://www.e-noosa.com.au
[email protected]