It's not just that rents on individual houses are increasing, Ray White Beecroft is also finding that the median value of new properties being given to us to manage is going up. There are some lovely houses coming onto the rental market.
We competed for a property management some four months ago telling the owner we could get $950 for it, but the owner gave the management to another company who promised to get $1200. Well guess what, after three wasted months without a tenant the owner has given his property to us. Lydia Merrill is pretty confident she can rent it quickly at the agreed price of $950. But that delay has cost the owner some $12,000 in lost rent! Shows why you need to evaluate the quality of the property manager's advice before giving someone your property to manage. Wild promises do not necessarily lead to paying tenants!
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