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The good thing is that we have never had any problem finding tennants, the longest vacancy being less than 2 weeks. That’s what makes me wonder if the agents are being a bit slack. If there are long vacancies between tennants, naturally you don’t increase the rent but finding a tennant doesn’t seem to be a problem so why do they advise not to increase the rent. Living in Melbourne, I’m swayed by the agent’s advice.The two Auchenflower 1 bed units were purchased for $160k and rent for $200 pw, Kangaroo Point 1 bed purchased for $130k rents for $180pw, Lutwyche 2 bed purchased for $189k rents $230pw, and Calamvale 3 bed purchased for $179k rents for $240pw.I’m content with the returns, as after all claims etc, they EACH cost us about $20 pw out of our own pocket to keep.I don’t know whether to go with the flow, or increase the rent and risk vacancies.I suppose when it comes to units there’s always another one around the corner so competition for tennants could be stronger. I wasn’t aware that there was a problem with vacancies in Brisbane area. I own a few houses in Brisbane and have never had any real trouble finding a tennant, bearing in mind that the houses were purchased between $130,000 and $175,000 don’t require high rentals to cover costs whereas expensive 250,000 plus units may well do thus making them less attractive top tennants. Maybe you could tell us a little more about the current rental you are getting so we can get a handle on where you’re at?
MJK
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