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  • Profile photo of mgrmgr
    Member
    @mgr
    Join Date: 2004
    Post Count: 50

    Has anyone got a guide on the amount of rent i should ask for in a new 3 bedroom appartment overlooking the river in Brisbane CBD.
    The appartment block has its own management which have checked out ok but they have asked me to name the weekly or monthly rent not having much experiance in city centre renting any guide would be great.

    Thanks
    MGR

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi Mgr,

    I am surprised by the management’s comments. If they are any good they should be able to tell you what the market is currently paying in the area and in particular this building. Very strange response to say the least.

    Nonetheless try;
    http://www.rta.qld.gov.au/median_weekly_rents.cfm

    or

    http://www.seqrents.com.au/

    these will give you some direction.

    Derek
    [email protected]

    Property Investment Support Available. Ongoing and never stopping. PM welcome.

    Profile photo of mgrmgr
    Member
    @mgr
    Join Date: 2004
    Post Count: 50

    I thought the same but they say that there duties are maintanance and general management with weekly reports to the owner if they have any strange things to report.

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi Mgr,

    Another option would to be to look at http://www.realestate.com.au and search the ‘rental’ section for comparable properties in similar or same locations.

    Derek
    [email protected]

    Property Investment Support Available. Ongoing and never stopping. PM welcome.

    Profile photo of mgrmgr
    Member
    @mgr
    Join Date: 2004
    Post Count: 50

    Thanks for your links Derek great help as always just looked and theres a wide range within this building for the same property,probably the best way would be to take an average.

    thanks,

    MGR

    Profile photo of elika7264elika7264
    Member
    @elika7264
    Join Date: 2003
    Post Count: 160

    Hi,

    Remaining with the on site manager for maintenance etc is a good idea; but maybe you should be looking at a more experienced agent to handle the letting side of things.[blink] Why not speak to a few agents specialising in the city area to get a better idea of potential rent.

    You noted:

    theres a wide range within this building for the same property,probably the best way would be to take an average.

    There might be a number of reasons for the variation you referred to. If you take an average, you might be off the mark in terms of rent — resulting in either loss of income to you(if rent too low), or an extended vacancy (if rent too high).[blush2]

    Regards,
    Helen[biggrin]

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