Just wondering if your PM is as hopeless as mine?
Here is a email communication happened with my QLD PM over a week period.
Agent: Please advise your instructions for the lease renewal of *No, Street name*, Edens Landing. We recommend a 6 month term at the current rental prie of $380.00 per week. Please advise if you are happy for this offer to be processed and sent to the tenants.
Me: Can you please justify your rental estimate?
Agent: I have done some research in regards to the rental price. At the moment on the market there are 3x houses that are the same lay out as your property in 'Street Name' that are advertised for $370.00, $390.00 and $400.00 p/w
We are receiving $380.00 per week at the moment. Rent was increased in July 2014 by $10.00 per week.
Me: $370 pw one has 3 bed + study. That leaves only $390 & $400.
Median rent for Edens Landing is $385.00. Is the quality of our property less than an average 4/2/2 with air-con property?
Agent: We can increase the rent if you would like.
I just rented a 4 bedroom house in Edens Landing, 2 bathroom, huge back yard for $365.00 however that took 3x weeks to rent.
Me: What is the address of the property went for $365?
We added new Air conditioners recently. Now the house is being re-painted. Hence, I thought $10 increase might be a fair amount as long as tenant doesn't leave.
Agent: * Address of the property rented for $365* was only a 3 bedroom house sorry that rented for $365.00
$10.00 increase would be very fair.
This PM didn't do any work before suggesting the new rent!
Do I have unrealistic expectation?
Here is a email communication happened with my QLD PM over a week period.
Agent: Please advise your instructions for the lease renewal of *No, Street name*, Edens Landing. We recommend a 6 month term at the current rental prie of $380.00 per week. Please advise if you are happy for this offer to be processed and sent to the tenants.
Me: Can you please justify your rental estimate?
Agent: I have done some research in regards to the rental price. At the moment on the market there are 3x houses that are the same lay out as your property in 'Street Name' that are advertised for $370.00, $390.00 and $400.00 p/w
We are receiving $380.00 per week at the moment. Rent was increased in July 2014 by $10.00 per week.
Me: $370 pw one has 3 bed + study. That leaves only $390 & $400.
Median rent for Edens Landing is $385.00. Is the quality of our property less than an average 4/2/2 with air-con property?
Agent: We can increase the rent if you would like.
I just rented a 4 bedroom house in Edens Landing, 2 bathroom, huge back yard for $365.00 however that took 3x weeks to rent.
Me: What is the address of the property went for $365?
We added new Air conditioners recently. Now the house is being re-painted. Hence, I thought $10 increase might be a fair amount as long as tenant doesn't leave.
Agent: * Address of the property rented for $365* was only a 3 bedroom house sorry that rented for $365.00
$10.00 increase would be very fair.
This PM didn't do any work before suggesting the new rent!
Do I have unrealistic expectation?