Why do I need a rental appraisal?
As a property investor, maximising the return on your investment is crucial. By partnering with a reputable Property Manager to conduct a regular rental appraisal, you will receive a comprehensive review of your property including the expected rental return, in the given market conditions. A rental appraisal can give you a better understanding of your asset, in order to maximise its potential in the market.
As a potential investor, a rental appraisal can also help you assess the viability of a future investment, before you proceed. If you are applying for finance, a rental appraisal may be a requirement from the lender – they will often need to see evidence of the rental income before approving a loan.
What does a rental appraisal include?
A rental appraisal should include a comprehensive assessment and detailed report on your property.
The assessment will cover:
Key features – current condition of the property, size, number of bedrooms and bathrooms, fixtures and fittings, storage, parking, and quality of any renovations
Location – including proximity to amenities like schools, shops, transport and favoured locations
Comparable data – including current analysis of the local market, similar stock being advertised, and results for properties that have rented in the past 90 days
The report will provide:
Price guide – the optimum rental price range for your property, based on current market insights
Opportunities to add value – expert recommendations on how to add value to your property, in order to maximise appeal and potential rental return in your particular market
Marketing strategy – a tailored marketing approach to target and attract quality tenants
With an expert appraisal from a trusted local Property Manager, you will receive powerful insights and tools, allowing you to unlock the greatest return on your investment.