澳洲Australia property Question on rent and yield. | Sydney


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


If you want to know what yield you will get from an investment properly you need to plug in the rent money that you will receive from it.

How do you know how much rent money you will get?
what are the ways people work out the rent for a given property?

Thank you for your help in teaching me.  

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You get a local property manager to look at the house and hope they are telling the truth.

If you don't own it yet and are trying to work out if it is worth buying or not, keep an eye on listings of similar places that are for rent. You get a feel for your target area after a while of watching listings.  

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sashatheman said: ↑
How do you know how much rent money you will get?Click to expand...
3 ways:
1. Comparable rentals (as R Elf said) - see www.realestate.com.au rental section.
2. Rental appraisal fom the PM department of the selling agent of the house you are inspecting. At Opens the organised REAs have a laminated rental appraisal for viewing.
3. Actual rent. Copy of the contract of sale will have a copy of the resi lease agreement attached if still tenanted.  

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Thank you guys for your answers.

One more question :D
Once you have the property, how are rents set? Can you theoretically choose any rent amount you want, but in the end it will depend on how much people are willing to pay.
and what about raising it? I would imagine there would be limits to raising it etc how does raising rent work?

Thanks again.  

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sashatheman said: ↑
Thank you guys for your answers.

One more question :D
Once you have the property, how are rents set? Can you theoretically choose any rent amount you want, but in the end it will depend on how much people are willing to pay.
and what about raising it? I would imagine there would be limits to raising it etc how does raising rent work?

Thanks again.Click to expand...
There are lots of laws, regulation and legislation on who, what, when and why can be rented and for how much depending on where your Investment properties are located in the country and what type of property they are.

It is the landlords responsibility to know what they are liable for and what the law of the land allows in regards to what can be charged and how/when rental increase can be made.

For New South Welshers a good place to start would be;

fairtrading.nsw.gov.au/Tenants_and_home_owners/Being_a_landlord.html

andhttp://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Renting_a_home/Rent.html#How_can_rent_be_increased  

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sashatheman said: ↑
Once you have the property, how are rents set? Can you theoretically choose any rent amount you want, but in the end it will depend on how much people are willing to pay.Click to expand...
Correct - the market sets the rent.  

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sashatheman said: ↑
If you want to know what yield you will get from an investment properly you need to plug in the rent money that you will receive from it.

How do you know how much rent money you will get?
what are the ways people work out the rent for a given property?

Thank you for your help in teaching me.Click to expand...
whenever i look to buy a place i also look to rent the same property. i go to rental inspections, see how competitive it is, see how long places take to rent, what they rent for, what renters in the area want etc. talk to other potential renters.

that will give you a much better idea than any salesman ever will.  

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Just remember that rents can go down as well as up, depending on the demand at the time your property is vacant.
Marg  

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