ABOUT RENTAL APPRAISALS
01. So, what is my Rental Appraisal Estimate?
That’s the first question on most landlords’ minds before they lease in the Sydney Property Market. Let us answer that for you with these short questions, and you’ll receive a detailed report including the following:
01. Your Property Value
We perform a Comparative Market Analysis (CMA) on your property. This is where we consider its similarities and differences from other recent leases of the same property type. This is how we learn what tenants are paying for properties like yours in the current rental market.
02. Demographics
As Real Estate Agents, we are masters of property data. We can see what demographics are living and renting in any particular suburb. We can also tap into our experience and knowledge to determine demographic interest per property type.
03. Data on neighbouring properties
As appraisals are comparable by nature, we maintain transparency by including all comparable properties. We also include their stats, such as their rental price, days-on-market, price adjustments, etc.
04. 10-year suburb median rental price graph
Also included in your rental appraisal report is the 10-year graph of the median rental price in your property’s suburb. Studying this allows us to see patterns and understand the different stages in the property cycle. This is also an excellent tool to help shift our mindset away from the current value to what’s most important; the best possible outcome!
