First time renovator! New kitchen - Rental increase?

[dan_89]

Hi all,

Am currently in the process of renovating my old mans rental and interested to know people thoughts on potential rental increase. Unit is in Glen Waverley and is currently bringing in $400pw. The unit is a 2-1-1 brick veneer. I have added a few before & after images for those interested. If in his position would you increase rent? and what increase is reasonable?

Thanks in advance.

 

[Badger]

A property Manager from the area would be able to give you an accurate figure, or just jump on realestate.com and have a look at comparable rentals.

 

[TMNT]

very nice

how much was the kitchen ?

 

[dan_89]

very nice

how much was the kitchen ?

Thanks TMNT,

Kaboodle (bunnings) carcass, doors, handles etc was $4k (surprisingly easy to work with - I used to be a cabinet maker so am reasonably fussy with quality). Benchtop was done by a local cabinet maker, haven't got the invoice for that yet ha! Then there was a couple of hours for a plasterer and appliances were around $800..

I'd say end figure will be around $7k-ish.. This isn't including any of my labour which is $0 as I'm working off my years of free rent (still living at home). Not far off being completed then I've got my own 2nd rental to renovate. Cannot wait!

 

[Nattl3s]

Lovely looking kitchen - great work! I used an Ikea kitchen 5 years ago. Still looks excellent.
Ask your PM about increasing the rent. However: This Jan, i went on RE.com and saw that the average rental for my IP type and area was $350wk, mine was going to be listed at $340wk ( its in very average condition). The PM said she would struggle to get $350 but i refused to drop to $340. Took her 2 days and new tenants were signed up for $355 before the old tenants had even vacated. So i guess it depends on your PM.
Cheers, nat