In this Property Management Wednesday edition of Wealth Coffee Chats, Kat Schoster from the Six Star Property Management team breaks down one of the most common and costly mistakes landlords make — being too passive with rent reviews. After 15 years in the industry, Kat has seen countless investors lose thousands of dollars simply by avoiding or delaying rent adjustments to “keep good tenants happy.” He shares a real example that sparked over 100 online comments, where a landlord kept rent well below market for six years — missing out on over $10,000 in potential income and now facing a tricky rent hike dilemma. Kat explores the psychology behind why landlords hesitate to raise rent, the financial consequences of letting emotion override strategy, and how to balance tenant retention with business sustainability. He also offers practical, data-driven tips on conducting annual rent reviews, using market comparables, and maintaining consistent, manageable rent increases that protect both your income and your tenant relationships.

Episode Highlights:

1. The one “nice” habit that’s secretly costing landlords thousands.


2. Real case study: six years of stable tenancy but $10,000 in lost rent.


3. Why skipping annual rent reviews is a financial risk.


4. Balancing compassion and profitability in property management.


5. How to use comparables and research (realestate.com.au, SQM, etc.) wisely.


6. The true cost of tenant turnover — reletting fees, vacancy, and marketing.


7. Why small, consistent rent increases work better than one big jump.


8. Legal timing rules for rent reviews across Australian states.


9. How to have transparent, respectful rent discussions with long-term tenants.


10. Final takeaway: property investing is a business — manage it like one.