In all my years of property management I have encountered many landlords saying “the other agent quoted a higher rent per week”. My answer to them is: ‘How well do they know the market/area? Did they do their research? Did they bring comparable examples to the listing?’
We all know a difference of $20 or $50 per week is very attractive to landlords. But if the property is listed too high it takes longer to secure new tenants and based on the median rent $430 in Brisbane that means each week the property is not tenanted, the landlord is out of pocket $430. .
A good property manager or BDM will list the property in line with the current rental market, show comparable examples and be realistic.
A property that is advertised well, presented well and is within a realistic market rent will secure new tenants in a reasonable amount of time.
For more information go to http://www.rentaltrends.com.au