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Kallangur Rent Estimate

Discussion in 'Property Management' started by hash_investor, 28th Sep, 2016.

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  1. hash_investor

    hash_investor Well-Known Member

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    Sydney / Canberra
    One of my tenants has recently handed over their notice. They are breaking the lease.

    I will have to now find a new tenant. It is a 3/2/1 with a small backyard approx. 8 years old so relatively new build. I am getting a new market estimate for the rent. Anyone who went through a similar exercise please share your experience and rent expectations.
     
  2. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Please ask your PM to undertake a comparative rental analysis of comparative IPs within a 1.5 km radius of yours within the last six months to establish credible evidence to base the rental asking price upon. That will assist you to make an informed decision within the current market context.
     
  3. Ed Barton

    Ed Barton Well-Known Member

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    It's a break lease. The asking rent will have to be what the previous tenant was paying.
     
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  4. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Oh yes, that is correct.
     
  5. DiligentPM

    DiligentPM Well-Known Member Business Member

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    I came back to make a post and missed the bit about break lease