Improved a self-managed Highgate Hill apartment by about $5,950 a year.
+$80/wk
Rent increase
$1,800
Estimated maintenance saving
$5,950
Annualised net improvement
Case proof.
- Suburb
- Highgate Hill
- Landlord type
- Self-managed apartment owner
- Problem
- The property had no recent rent review, retail maintenance costs and no formal routine inspection record.
- Action
- Toohey PM completed a rent appraisal, issued a compliant increase, moved trades to preferred pricing and reinstated inspections.
- Result
- Annualised net income improved by about $5,950 while the tenant stayed.
- Primary metric
- +$5,950 annualised net income
The situation
The owner of this Highgate Hill apartment had been self-managing for 4 years. There had been no rent review since 2022, repairs were being charged at full retail, and there were no formal routine inspections on file.
One recent example was a $1,400 hot water unit replacement that should have been closer to $950. The property was still occupied, but the net yield was trending down.
What we did
On takeover, we completed a market rent appraisal showing the property was about $90 per week under market.
We issued a compliant rent increase notice with 60 days' notice, moved maintenance to our preferred panel pricing, and reinstated quarterly routine inspections with photographic reports for the owner.
The outcome
The rent increased by $80 per week and the tenant stayed. Preferred trade pricing created an estimated annual saving of about $1,800 on routine maintenance.
Result: combined annualised improvement to net income of approximately $5,950.
“I genuinely thought I was saving money self-managing. The first rent review alone paid Toohey's fees several times over.”
Rachel Lim
