G'day, my first post here. Been a lurker for ages - thanks for all the discussions - has been invaluable. Thanks also to the site owners for their excellent books ....
Bought my first IP last year (mayfield, newcastle) and was wondering what the general consensus is on rent rises. I realise it's never cut&dried, depending on vacancy rates, tenant behaviour, etc.
Is there a formula or percentage you follow for raising rents? Or do you just put them up when you feel it's due?
Your thoughts appreciated.
Apologies if this has been asked before ....
Terry
Bought my first IP last year (mayfield, newcastle) and was wondering what the general consensus is on rent rises. I realise it's never cut&dried, depending on vacancy rates, tenant behaviour, etc.
Is there a formula or percentage you follow for raising rents? Or do you just put them up when you feel it's due?
Your thoughts appreciated.
Apologies if this has been asked before ....
Terry