Dan gets approached on a monthly basis from the Bay Of Plenty Times and Weekend Sun reporters asking what is happening with our rents. The simple answer at the moment is that we are looking for new properties to rent on a daily basis as we have very low levels available in Tauranga and there is still a high demand from potential Tenants so the Market is saying Low Supply + High Demand = Rising Rents.
So what does that mean for you? Is the rent you are receiving for your Rental Investment a fair reflection of the current market? Are you subsidising your current Tenant by not charging Market Rent? Are you losing money by not charging Market Rent?
We continually get asked to appraise our Owners Residential Rental Investments, it is part of Tauranga Rentals Ltd Best Practice Procedures to review our Management Owners rents on a regular basis, we review them informally every three months when we do our regular Inspection, we formally review them every six months and we will always raise them on an annual basis to keep up with the market as Owners costs continually increase and it is not fair to increase Tenants Rents by large amounts which puts unfair financial pressure on them.
If you are a private Landlord and you are concerned you are not charging Market Rent for your Investment we are offering Rent Appraisals on the basis should you need a Property Management Company services you will call us.
After it has been decided to raise the rent a Tenant must be given 60 days’ notice in writing that their rents are going up, and should you need it, proof the increase is warranted.
So before you lose any more money call us now for that appraisal.
We always make our Tenants aware of the banks not paying APs on Public Holidays and that they need to insure they have money in their accounts for the next working day
Merry Christmas from Dan & The Team at Tauranga Rentals Ltd
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