How to set the rental rate (part 2)
When it comes to setting the rental rate on your rental property, you need to be very wary of market conditions.
If there is an oversupply of stock on the market, it may mean that you will need to bring your rate down to fill your property.
On the other hand, if there is an increase in demand, it will allow you to maximise the potential rental that you can achieve for your property.
Rental rates usually increase annually and we refer to this as an escalation in the rental rate which is generally in keeping with the prevailing inflation rate.
When it comes to a rental property investment, it is vital that you set your rental rate at a level that will keep it occupied to maximise the returns on your investment.
27 Sep 2018
Author Seeff
If there is an oversupply of stock on the market, it may mean that you will need to bring your rate down to fill your property.
On the other hand, if there is an increase in demand, it will allow you to maximise the potential rental that you can achieve for your property.
Rental rates usually increase annually and we refer to this as an escalation in the rental rate which is generally in keeping with the prevailing inflation rate.
When it comes to a rental property investment, it is vital that you set your rental rate at a level that will keep it occupied to maximise the returns on your investment.
27 Sep 2018
Author Seeff