If you own an investment property in Bulleen, charging below-market rent can cost you thousands each year. Here’s how to check if your property is under-rented and what to do about it.
Quick Answer
Bulleen’s rental market has tightened in recent years. Many long-term landlords are discovering their properties are rented well below new market rates.
Signs Your Property May Be Under-Rented
- You haven’t increased rent in 12+ months
- Similar nearby properties rent for significantly more
- Tenant did not challenge last increase
- Your property leased in days when similar ones lagged
What to Do
- Request a current market rent appraisal from a local expert
- Compare with up-to-date rental listings and leased results
- Review lease terms — consider timing for a lawful increase
- Communicate any planned increase in line with Victorian rules
Local Bulleen Rent Data
Median rent (house): [Insert latest]
Median rent (unit): [Insert latest]
Rental yield: [Insert latest]
Melbourne & VIC Compliance
- Rent can only be raised at legal intervals per your lease and Vic rules
- Rent increases must be fair and supported by comparable evidence
What to Ask Your Property Manager
- When was the last rent review?
- Are current rents competitive?
- What evidence supports a rent increase?
- Will an increase risk vacancy?
When to Seek a Second Opinion
If your property manager hasn’t reviewed your rent recently, or you’re unsure how your property compares, a confidential rental appraisal by Collings can help.
FAQ
- How much can I increase rent in Bulleen?
- What are the notice requirements for a rent increase?
- Should I improve the property before raising rent?
Action CTA
Unsure if your property is under-rented? Request a free rental review from Collings to maximise your Bulleen investment’s income. Click here to enquire or call 03 9486 2000.
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