In a market where rental demand remains strong across Greater Hobart, one of the most common questions we’re asked is — “Am I achieving the right rent?”

The reality is, many investment properties are currently sitting below market value without owners even realising.

Why This Happens

There are a few common reasons properties become under-rented over time:

• Long-term tenants where increases have been gradual or avoided
• Lack of regular market reviews
• Changing market conditions — especially over the past 12–24 months
• Conservative pricing to secure a tenant quickly

While stability is important, it’s equally important to ensure your investment is performing as it should.

What Does Under-Renting Actually Cost?

Even a small difference in weekly rent can have a significant impact over time.

For example:
An extra $30 per week = $1,560 per year

Over 5 years, that’s nearly $8,000 in lost income — without factoring in future increases.

Signs Your Property May Be Under-Rented

• You haven’t reviewed the rent in the past 12 months
• Comparable properties in your area are leasing for more
• You’ve had the same tenant for several years without adjustment
• Demand in your suburb has increased (which we are seeing across many areas)

Balancing Return and Tenant Retention

A common concern for owners is increasing rent and risking a good tenant.

With the right approach, this can be managed carefully:

• Increases should be fair, evidence-based and well communicated
• Timing and notice periods are key
• Gradual adjustments can often retain quality tenants while improving return

The Importance of Regular Reviews

We recommend reviewing your rental price at least annually — even if no increase is applied.

A proactive approach allows you to:

• Keep pace with the market
• Plan ahead with your investment strategy
• Avoid large jumps in rent down the track

A Simple Check Could Make a Big Difference

If you’re unsure whether your property is achieving the right rent, a quick review can provide clarity.

At MIX Property Group, we regularly assess rental performance for our clients and provide up-to-date market insights based on current demand, comparable properties and local trends.

If you’d like an updated rental estimate or simply a second opinion, we’re here to help. Contact us today