For property investors, putting up their home for rent is a good way to secure another stream of income. The problem is, most new landlords fail to understand the complexities of renting out a property and often overcharge or undercharge tenants leading to more complicated issues down the line.
This can easily be remedied through a proper appraisal of your property before offering it in the market. By doing so, you understand the true value of your property and have the ability to charge accordingly.
Your property’s true value
Understanding your property’s true value will open up a world of opportunities as you discover your property’s potential. But, your true value is linked to a variety of things. And the true value is based on the appraisal of qualified individuals and institutions. Furthermore, this value is relative to how it is defined.
For example, your house has a capital value which is determined by the local council. If you apply for a loan, this value will have an added feature called the collateral value which the bank you borrowed money from determines. This changes your property’s true value.
This then becomes even more complicated if you wish to know your market value or add insurance which either raises or devalues your property. LJ Hooker can help you appraise your property with no obligations and even help you get potential tenants. We have been in the business long enough to understand every individual’s unique needs.
Other factors that affect your property’s value
- Proximity to schools, office and shopping establishments
- Value of houses in the neighbourhood as opposed to yours
- Historical valuation of property ownership
- Population demographics within the immediate area
- Proximity to transportation or ease of access to your location
- History of your immediate location
- Rent rates history in your locale
- Size of your property
All of these can be properly assessed by a rental appraiser which LJ Hooker lists as part of our services to our customers. Our long history of successful transactions has made us one of the top Real Estate Companies trusted by thousands of homeowners, buyers and tenants in New Zealand.
Find out what your property's rental value is in today's market. Whether you are looking for new tenants after your long-term tenants have moved out or you are looking to invest in a new property, LJ Hooker will give you a free no obligation rental appraisal.
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