In this article
Find out why a rental property appraisal is essential for making smart investment choices:
- Understand your property's market value
- Set the right rent price and attract quality tenants
- Stay ahead of market trends and maximise returns
- Get expert advice tailored to your investment goals
Want to maximise your rental income? A rental property appraisal helps you understand your property's market value, attract quality tenants, and boost rental yield. Learn when and why you should get an appraisal—before you leave money on the table!
Fall Real Estate’s expert guide to maximising your rental property’s value
What is a rental property appraisal in Tasmania?
A rental property appraisal gives you an expert estimate of how much rent your property could earn in today’s market. It’s based on recent rental trends, your property’s features, and what tenants are willing to pay in your area.
A formal rental property appraisal (the written report) outlines your property's current and potential rental yield through our residential leasing agents’ expertise, extensive rental market research and experience in today’s rental market.
The formal appraisal includes:
- Projected rental income based on current market trends
- Transparent cost breakdown for leasing your property with Fall Real Estate
- Expert strategies to boost rental yield, maximising your investment returns
- Personalised recommendations to attract quality tenants faster and reduce vacancy periods
Process of a rental property appraisal in Tasmania
Start the process by reaching out to one of our skilled residential leasing agents. They’ll guide you through each step and provide personalised advice tailored to your property and investment goals.
At Fall, we have three designated and highly trained residential leasing agents. They are all experienced agents, using their expertise to assist you in leasing your rental property.
Kim Gould - 0428 773 279
Kim goes the extra mile to achieve outstanding results for landlords.
To find out more about Kim, click here.
Naomi van Schie - 0476 829 898
Naomi is ambitious, focused and dedicated to assisting her clients in achieving their best outcomes.
To find out more about Naomi, click here.
Ariel Dao - 0488 588 052
With a deep knowledge of different property investment strategies, Ariel can strategise with you!
To find out more about Ariel, click here.
Having sound knowledge of all local areas of Southern Tasmania, our residential leasing agents will have your rental property leased and looked after in no time.
Step 2: Book your rental property appraisal
When you choose Fall Real Estate, you can email, message or call to make a rental property appraisal appointment at a convenient time for you.
Step 3: No need to renovate
Don’t worry about expensive upgrades before your appraisal. Your leasing agent will guide you on:
- What small changes can increase your rental yield
- Which upgrades are unnecessary (saving you time & money)
- How to meet government rental standards effortlessly
Not sure if your property is ready? Book a free consultation with one of our experts today!
Step 4: The property visit
The property visit involves one of our leasing agents getting to know you and your property. They will find out your goals and will view the benefits of your property.
Your agent will also be able to provide you with more information regarding legislative requirements for a rental property. There are minimum standards acceptable for leasing rental property in Tasmania.
Step 5: Prepare a formal rental property appraisal
Once the appraisal is complete, you’ll receive a comprehensive report outlining your property’s rental potential, local market trends, and tailored suggestions to increase your rental income. This data-driven approach ensures that you make informed decisions about your investment.
The written report will include:
- Comprehensive property management solutions – Transparent fees, expert services, and seamless rental management with Fall Real Estate.
- Exclusive market insights – Stay ahead with the latest rental trends and expert-driven market analysis.
- Maximised rental returns – Understand your property’s earning potential and how to boost its yield.
- Hassle-free management authority – Gain confidence with professional support and streamlined property oversight.
- Essential compliance guidance – Ensure your investment meets all Government Minimum Standards with expert advice.
Whatever your next decision, motives or goals are, your residential leasing agent will help bring them to life through their professional advice and invaluable experience in the current and forever-changing rental market conditions.
What is a rental property appraisal explained
Let's look at what is involved in appraising your investment property.
The property size
Your residential leasing agent will look at the land size and structure, the size and layout of the house and the available parking to start the process of comparing these with like properties.
Location and neighbourhood
The location of your property determines the price range and what potential tenants are looking for in a property.
Building structure
In general, if the structure of your property is maintained and well-presented, the higher the rental yield may be. The residential leasing agent will also look at the size of the windows, amount of storage and additional features such as solar panels.
Main rooms
The first feature potential tenants look for is the number of bedrooms and bathrooms and the size of the living spaces. Your residential leasing agent will take note of the size and whether the bedrooms include built-in wardrobes or an ensuite.
The property's features
Knowing the features of a property is important not only for the rental property appraisal but also for the marketing campaign. Property features can entice more potential tenants too.
The property features will, therefore, impact the suggested rental price.
The features your residential leasing agent will be looking for are:
- whether the property has easy access
- air conditioner or wood heater
- room size and quality appliances
- opportunities for extra spaces like a study nook or play area
- additional buildings and sheds
- NBN connection
- solar roof installation
- a swimming pool
- garden beds and hothouses
- fences and off-street parking, and
- other desirable characteristics of your home.
Areas for improvement
Your residential leasing agent will use all the information gathered, including the property's condition - well looked after or run down, for example - and make suggestions for improvement to increase the potential rental price.
Some simple improvements or easy renovations may see your property’s rental yield increase more than you realise.
Our Fall Real Estate team can help organise quotes from reliable tradesmen that we work with to make the improvement process easier and more efficient for you.
Recently leased rental properties
The residential leasing agent will look at similar size and condition properties to help narrow down the potential rental yield.
Our experienced leasing agents will be able to inform you whether the recently leased properties are stable, increasing or decreasing in value and whether it is a good time for you to introduce your property to the rental market. Their advice will also depend on your goals for your property and future property purchase(s).
Rental market conditions
The current rental market conditions will have a considerable impact on what your potential rental price will be. Your residential leasing agent will look at the competition, the number of tenants searching for your particular property type, and the current condition of the rental market.
Many variables need to be calculated and considered in order for your leasing agent to provide you with a quality rental property appraisal with professional suggestions and advice.
When to get a rental property appraisal
When should you get a rental property appraisal? (Hint: Sooner than you think!)
Not sure if now is the right time? Here are key reasons landlords get an appraisal—even if they’re not ready to rent yet:
Property changes
If you have recently renovated or made significant improvements to your investment property, it is a great idea to get a rental property appraisal completed.
The property value often fluctuates during the different market phases. However, a renovation or improvement will often see your property increase in value when compared to other similar properties.
Alternatively, you may want to check that the property improvements you plan to undertake will significantly increase the rental yield. Thus, before making improvements, you should talk to one of our residential leasing agents to ensure you save time and money on unnecessary enhancements.
Looking to purchase
If you are considering buying a rental property, talking to one of our experienced residential leasing agents about the potential rental yield before purchasing the property will help you to make a more informed decision when purchasing your first investment or adding to your investment portfolio.
Family changes
Has your family grown, or have you downsized in family members? You may want a rental property appraisal if you are considering keeping your home as an investment and plan to upsize or downsize your family home. Knowing the potential rental yield will help you determine a plan for your future direction.
Location changes
Has your occupation location changed, or is the school you want your children to attend out of the school catchment area? There are so many changes to our life routines that sometimes, the location of our property no longer fits our life.
Whether to the gym, school, or work, a simple change to our routine can change whether a new place in a new location would be a better fit. Therefore, you may wonder if you should sell your family home or turn your property into an investment and become an investor.
To find out more about property appraisals, read our helpful article all about appraisals here!
Financial changes
Our priorities change as we go through life, and we value different things. Some clients thrive on the faster pace and business of a full-time work life, while others appreciate a slower pace and the family time it brings. These priority changes mean financial change is also most likely to occur for all of us.
Our clients often ask us for a rental property appraisal when they would like to decrease their financial burden and find a property worth less than their current home.
Overall, knowing the current market value of your property gives you some significant insight to make positive decisions about your most valuable asset and future aspirations.
Overall, knowing the current market value of your property gives you some significant insight to make positive decisions about your most valuable asset and future aspirations.
Get my rental property appraised
The appraisal process is conducted when you are committed to renting your investment property. Our guidance at this stage can not only create better outcomes, but it can also save you considerable time and money.
Our residential leasing agents listen to your goals and aspirations at the rental property appraisal - your real estate journey starts here. A rental property appraisal will be significant in helping you make informed decisions.
When we look at your investment, our perspective and advice will focus on what we know will help you to reach your goals.
The process of getting an investment property ready for the rental market can be stressful and different for each of our clients. However, forming a professional relationship with your residential leasing agent from the beginning will build a strong foundation for your renting journey with Fall Real Estate.
When entering the rental market, it is vitally important the information you use to guide your decisions is accurate with the current market conditions.
You can contact us today and organise a free, no-obligation rental property appraisal for when you are next available! Simply read below to find your ideal Fall residential leasing agent, or call us on 6234 7033, so we can find the perfect agent for you, your property and your circumstance.
Kim Gould - 0428 773 279
Having received many referrals from satisfied clients over a career spanning 16 years in the industry, Kim builds a strong rapport with her clients and is always approachable, friendly and reliable.
To find out more about Kim, click here.
Naomi van Schie - 0476 829 898
Naomi has a diverse range of qualifications, including sales, operational middle management and communications.
To find out more about Naomi, click here.
Ariel Dao - 0488 588 052
With a Bachelor of Commerce and a diploma of property services, and being an investor herself, Ariel is extremely knowledgable and ready to assist with your leasing needs.
To find out more about Ariel, click here.
Update your rental property appraisal
Keeping your appraisal information updated is vital when you want to enter the rental market.
The rental market condition can impact tenant occupancy, the number of potential tenants needing a rental property, and the rental yield, affecting the best outcome.
Above all, developing a good relationship with one of our professional residential leasing agents can give you peace of mind.
At Fall Real Estate, our team can help you decide the best time to introduce your investment to the rental market, find the perfect tenant for your property and help maintain your investment.
Find out what your property is worth—for free!
The rental market is changing fast. Don’t miss out on maximising your rental returns! Book your free, no-obligation appraisal today.
Your success is our success!
Disclaimer: The information on this website is not legal or professional advice and is general in nature; therefore, the editorial content or articles on this website are intended as a guide only and do not consider your personal objectives, financial situation or particular needs. For more information, please read our Terms of Use and Privacy Policy.
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