Rent Setting Changing Tenancies

Local markets set rents  Places to find local "market rents"     ●  Tenancy services *     ●  TradeMe      ●  Facebook's rental property groups     ●  NZ Property Investors Federation      ●  Local property managers' websites     ●  Local newspapers or notice boards     ●  Other local tenants and providers. Notes: Tenancy Services can be unreliable   Important considerations for rent setting    ●   Higher rents turn away desirable renters    ●   Lower rents increase losses    ●   Rents plus capital gains must pay costs    ●   As costs increase: rents must also increase    ●   Costs include:-      -  Restorations and replacements      -  Interest on property value      -  Council rates, insurance, administration,      -  Landlord taxes      -  Repairs and maintenance    ●   If costs exceed incomes seek other investments   Changing Tenancies Top