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Correctly Pricing Rental Properties

By Michael Walkden

This morning we held the first open inspection for a newly listed rental property, 41 Thomas St South Plympton with an asking price range of $370 to $380 per week.

From the outset we received a dozed enquiries once it went live to the market, a positive sign that the property has been priced correctly.

We arrived to the scheduled inspection a good 10 minutes early and prospective tenants were already waiting to view. By final count, over the 15 minute inspection, a massive 38 groups had viewed the property.

Currently, we have received several applications within and over the asking price.

  • By correctly pricing the asking rent a competitive environment has been created generating a highly desirable result for the landlord.
  • Utilising professional imagery plus a floor plan prospective tenants can easily determine if the property is going to be suitable.

If you have any property management questions feel free to make contact with one the Ray White West Torrens property managers on 08 7070 0595

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