I’m new to this so please be gentle. I’m looking at a couple of 1 bed units, both in Launceston. One is asking 95k, what do you think it would rent for? The other is a cheapie that is already rented for $75/wk and is asking $65k. Is that price reasonable? What is the yield % on these kind of properties in todays market?
Ta!
We all have to start somewhere!
Go to realestate.com.au to ascertain the rents on similar properties in the area you want to research. The rent on that other pty sounds a bit cheap? Any chance of increasing it?
SOunds pretty standard for Tas now. Around 5% seems to be common, maybe 7% if you look have some luck.
Hi Guys
the best thing to do is to phone around some property managers and find out the real state of affairs regarding the rental market. Just because a property is renting at $75 per week doesn’t mean you would get that again, it maybe lower or higher.
Property managers will also be able to give you a general feel for rental demand and prices. Find out from them what is slow to rent and why.regards westan
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