It’s the question every landlord wants to know. Searching for comparable properties on sites like realestate.com.au or reiwa.com.au is a great way to see what similar properties are being advertised for, however, this should not be the deciding factor of how your property is priced when going to market. Similar homes that are leased, provides a more accurate rental amount likely to be achieved.
Bailey Devine Real Estate has access to property data software that provides us access to produce a Comparative Rental Analysis (CRA) prior to your property being advertised for rent. A CRA will show exactly what similar properties are rented for and how long they took to rent.
More importantly this report will show any difference between the original advertised price and the price it eventually rented for which can sometimes be quite a gap. How much a property is advertised for is not always the price it rents for and sometimes the difference can be quite significant. It is important to also consider how long comparable properties are taking to rent, especially if your property is vacant.