Setting A Realistic Price



We Lease MORE Properties than any other Broome Agent

 

As Broome’s largest leasing Agent we are able to guide you best on determining a fair market rental for your property. The condition of the property, the location and length of term are all critical factors to setting a realistic rental price. Some owners make the mistake of setting the rent too high and therefore do not attract a tenant as quickly as they could. Time is money so avoid unnecessary downtime in waiting for a higher rent while trying to secure a suitable tenant willing to pay a higher rate. If your property is priced competitively we can encourage and motivate a well-informed tenant to take action. If a property is overpriced the rate of inquiry is greatly diminished.

The rent we recommend is based upon rates being achieved for comparable properties supported by facts and statistics. Having the largest selection of properties in Broome ensures that we know the market better than any other Agent. The market rent for a property and the cost of financing it, cannot and should not be compared to each other. 

Expose your property to the widest range of potential tenants and ensure it is professionally marketed. Nine out of ten people start their search online which allows prospective tenants to be more discerning from the comfort of their office chair. We know the value of an effective web online presence which is why we have a dedicated marketing department to ensure your property is promoted to its very best advantage. 
 

We differ from normal property management departments in that we offer a dedicated Leasing Officer and a Marketing Team which guarantees your property the best exposure available. 

Some of the other ways we try to minimise your vacancy include:

Minimising tenants moving - obtaining the best rental price is just one component of ensuring your investment achieves the best returns. Having a constant revenue stream is vital to ensuring the financial success of your investment, and in this market, if it's possible to entice the current tenants to remain by reducing the rent, this is financially more beneficial.

Online prescence - the first place today's prospective tenant starts their search for a rental property is online. This can be via a search engine, through a property website or even a facebook group. Statistics show that rental properties with good, clean photography lease quicker especially in helping create interest online through social media. Prospective tenants will be more inclined to click, enquire, and view so that ultimately, the more people that come through the door, the higher chances are that they will apply.

Digital Marketing - along with our own website, we promote rental properties on a range of property portals to ensure maximum exposure as well as social media. We also have our own database with prospective tenants and their specific requirements ready to rent a property that suits their needs. All our available properties are emailed directly to them with a follow up from our Leasing Officer. 

Lease Terms - not a new concept, but certainly a tactic that we are pushing harder this year is to avoid new leases and lease extensions expiring in quieter times. You may find we suggest an 8 or 15 month lease to have the renewal come around in a busier period.

So what is the benefit of a dedicated Leasing Consultant? Traditionally if a property manager is expected to carry out all their management duties as well as leasing you may find prospective tenants don't have calls returned until some few days later. Similarly to arrange a time to view a property may mean it has to wait until after their three days of inspections are completed.

At First National Broome our Leasing Consultant is available full time to follow up any rental enquiries and book viewings. Unlike some agents who only advertise a property and then pray for some enquiry, we actively pursue all tenant enquiries and try to accommodate their availability for viewings whenever possible. We also utilise our prospective tenant database to the best of our advantage and propose each enquiring tenant considers all our other listings if they one they enquired on doesn't suit. This seems like common sense but when actively pursued, we are converting interest from one property onto others regularly. In fact we often receive comments from prospective tenants that they only want to rent with our Agency because of how easy we are to communicate with. 

These are just a few examples of how we manage our property management department to ensure you investment maximises it returns. 

For a personalised opinion on the value of your investment click here.