Hi All,
I have a rental property in a country NSW town that has been renovated and is about to be vacated in 3 weeks. Last time it was vacant it stood empty for 3 months and almost killed me. I am told by the REA that is was not a matter of the weekly rental, $200/wk,but the availability of good tenants. The area does have a high crime rate, and the REA tells me that some of the applicants you would not let in your house as they would either not pay rent or trash the place, and that a good tenant could easily pay the $200, and would for this house, as there are very few quality homes in the area. Last vacancy I suggested we drop the rent to $180 or $160 even, as any rent is better than a vacancy, but the REA said it would not increase the number of 'good' enquiries.
So, all of this understood, I played the waiting game and slowly drained my bank accounts. In three weeks it goes vacant again, as the tenant is buying in the area. I am desparate to not own an empty house for months on end again, and am after any advise as to what I ca do with this property, or how I can increase the chances of it being tenanted, and/or minimise the vacancy time.
I have asked the REA to obtain feedback from the current tenant about the property and ways i can improve it, and so i am awaiting that now, but what else can I do?
Kind Regards
Mikeare there other agents in the area that you can approach with questions about tenant availability?
has your agent started advertising the property yet (even if it is just listed at his office for walk-in apps), and if not when does he expect to? if i had an agent with a residential that was empty for 3 months, i'd be seriously concerned to the point of changing agents. then you keep on top of it. call all the time, drive them mad if you have to but get your place remembered and then let.of course there is a balance because you don't want dodgy tenants but if you are undergoing financial difficulties because of a slack agent, you need to be as proactive as possible.
the other alternative is to go there the weekend the tenants move out. phone thru adds in the local paper for that weekend and show people thru yourself. you can still get your agent to check them thru before a decision is made but at least you would know if there really had been no response.
i live in a ballarat (90,000) and i have a friend who has been looking for a rental. i have been shocked to learn that agents regularly make appointments for 'next week' or whenever it suits them, rather than showing the property quickly. my friend is a professional and able to move immediately. if that happens in a place as big as balla, country towns could be just as slack.
without sounding trite, stressing doesn't help. consistent checking on agents and ear to the ground does.
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