It’s that time again!
We love answering your questions.
Here are some of the best ones from this week:
Q: I can’t afford not to receive any rental income. When is the best time of the year to advertise my property for rent?
A: The busiest season in the rental market is definitely January to February. The typical reasons are that people are transferring for work, settling the children into a new school or university.
Q: I want to get the maximum amount of rental income for my property. I am considering using a rental bidding app. Is it legal in Victoria to use these apps for rent bidding?
A: The Real Estate Institute of Victoria has issued guidelines prohibiting rent bidding, but we are aware that it is still going on. Tenants Victoria is also currently petitioning the State Government to make sure that it remains prohibited.
Q: My property doesn’t currently have air-conditioning and my tenant had asked if it can be installed. How much extra can I charge a tenant for air-conditioning?
A: This is classified as a property improvement and you can ask for some additional rent; between $5-$20 a week. You can also ask the tenants to sign on for a further fixed term lease agreement.
Thank you to everyone who contributed!
Send all your questions to jason@realrenta.com.
