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Obligation-Free Rental Appraisals by Your Local Property Managers
Rental appraisals are an integral part of property management and are conducted annually for all properties managed by us. However, we also provide free appraisals for landlords who require them for any reason, including:
- Simply out of curiosity, such as if you're considering buying a new house and renting out yours, looking at short-term rentals, or wanting to know what the owner next door may be getting for their rented property.
- To determine whether their rental property is priced correctly according to the current market.
- When their current property manager hasn't conducted a rent review in years.
- When looking to purchase a rental property.
- When required for financing to enable further investment in our beautiful community.
What is a Rental Appraisal?
A rental appraisal is an assessment of the potential rental value of a property, providing an estimate of how much rent a property could fetch at a given moment in time, factoring in the property's location, size, condition, amenities, and current market conditions. We also review comparable rental properties in the area to determine a competitive rental price.
The importance of rental reviews is not only to maximize your return on investment but also to ensure suitable funds are available for repairs and maintenance, thus improving your asset and the comfort of the tenants who call your property home.
The median rent for the Ruapehu region has increased by 24.7% over the last 2 years (information obtained from www.tenancy.govt.nz – Rental Bond Data). Failure to undertake frequent rent reviews on the median rent of $425 costs landlords. If your Property Manager has not conducted frequent rent reviews and has not increased your rent since 2022, you would have lost $1560.00 for the 2022-2023 year and $3,900 for the 2023-2024 year based on the median rent increases for the region.
Rental appraisals completed by us are obligation-free with no associated costs. We don’t put you on a marketing list or employ any pressure selling tactics. We believe in being fair and transparent to ensure you have nothing to lose.
What impacts a rental appraisal?
- Location: The property's location is crucial, including its distance to shops, hospitals, access to high-speed internet, travel time, and neighborhood.
- Size and Layout: The size of the property and its layout, including the number of bedrooms, bathrooms, and living spaces.
- Condition: The overall condition of the property, ongoing maintenance level, and any recent renovations or upgrades – modern bathrooms and kitchens play a big part in rentability.
- Amenities and Features: Additional amenities and features such as parking spaces, outdoor areas, air conditioning, sheds, and modern appliances can enhance the property's appeal and potentially increase its rental value.
- Market Demand: The demand for rental properties in the area, as well as any trends or fluctuations in the rental market, should be considered to gauge the property's competitiveness and rental potential.
- Comparable Properties: Analyzing rental prices of similar properties in the same area provides valuable insights into the property's value and helps determine a competitive rental rate.
Only by considering these factors can a comprehensive and accurate rental appraisal be completed.