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A good idea is to jump into realestate.com.au and do a look in your area filtered by price, have a look at how many properties are for rent and compare them with yours, it's what your prospective tenants are doing after all.

Definitely slower, plenty of buyers at the moment and some of them were former renters. > Townhouse, previously rented for $600, appraised at $590, ended up getting $570 after a couple of weeks vacancy > Villa, appraised at $320, tried $340 to start (would have probably worked in 2012) and...