Setting the right rental price is key to attracting quality tenants and maximizing a landlord’s return. A local property manager can help by:

Understanding Tenant Demands and Needs

Knowing what tenants are seeking in their rental homes and their motivation for choosing one home over another.
Able to consider seasonality, location to amenities and recent neighbourhood trends.

Assessing Market Comparisons

Uses real-time data to compare like-for-like properties across the entire rental market.
Prevents pricing based on emotions, rather relying on the current rental- market conditions and previous years trends to guide the decision.

Avoiding Pricing Pitfalls

Pricing too high can lead to extended vacancies or being forced to rent a home to more renters than desired, which impacts maintenance and cleaning.

If you have good tenants in place already, what are they worth? Having them in your investment home can be far more better than a big rent increase.

Pricing too low may attract less qualified tenants and lower profitability, though finding a tenant should in theory be easier to rent.

A property manager should carefully consider what an owner’s desired return on their home is. They should also help guide pricing decision which; maximises returns and at the same time remain competitive in the rental market. Need help with your rental pricing? We’re here for you!

Home & Co Property Management. Nobody knows the Wanaka rental market better.