I'm curious for those with IPs in Brisbane whether your PMs have been increasing rents of late.
I have two IPs in Coorparoo coming off twelve month leases and thought I would increase by $10 per week. I've been told by a PM that this is what is "generally" done by their office.
I was told last night by a real estate agent that "rents have fallen locally" and I'm curious to hear whether landlords (via PMs) have been raising rents in the past year or two in Brisbane, inner circle.
I'd like the extra $10 if I can get it, but searching through rent adverts on re.com is not easy. They all look better in the photo than in real life and most houses from $400 to $600 can look pretty much the same quality. It is hard to compare them just from the photos.
One house in Coorparoo we have been getting $525 for the past 18 months. I told the tenant we would likely raise the rent to $535 and it seems she will stay on (with two others to share the cost). Average rental in Coorparoo is in the mid $400s so we enjoy higher than average rent for this place, which is attractive, nice and clean, but noting to write home about. However, clearly it is better than something renting for mid $400s or it would have sat empty.
In the past we have tended to have tenants turnover every two or so years and that is when we bring the rent back to market, but both these houses have tenants who are great and we don't want to lose for the sake of $10 a week, but also don't want to fall behind as both tenants are "long term".
I have two IPs in Coorparoo coming off twelve month leases and thought I would increase by $10 per week. I've been told by a PM that this is what is "generally" done by their office.
I was told last night by a real estate agent that "rents have fallen locally" and I'm curious to hear whether landlords (via PMs) have been raising rents in the past year or two in Brisbane, inner circle.
I'd like the extra $10 if I can get it, but searching through rent adverts on re.com is not easy. They all look better in the photo than in real life and most houses from $400 to $600 can look pretty much the same quality. It is hard to compare them just from the photos.
One house in Coorparoo we have been getting $525 for the past 18 months. I told the tenant we would likely raise the rent to $535 and it seems she will stay on (with two others to share the cost). Average rental in Coorparoo is in the mid $400s so we enjoy higher than average rent for this place, which is attractive, nice and clean, but noting to write home about. However, clearly it is better than something renting for mid $400s or it would have sat empty.
In the past we have tended to have tenants turnover every two or so years and that is when we bring the rent back to market, but both these houses have tenants who are great and we don't want to lose for the sake of $10 a week, but also don't want to fall behind as both tenants are "long term".