Hi All,
I read this forum all the time & it is such a huge wealth of knowledge for novices like me. So thanks everyone.
I am looking for some advice on a unit we have in Wodonga that has been vacant for 4 weeks. We have owned it for over 2 years now & it has always been tenanted, or easy to find a new one for. This time it is taking a little longer. The agent tells me there has been interest but not from desirable tenants. The rent has remained the same amount since we have had the property.
I was thinking of offering “1 weeks free rent” and I also am going to tell the agent they need to add internal photos of the property to the web.
We also own the other unit on the block that is renting for $200 per week, so I don't really want to drop the rent on the vacant one too much as it may ruffle feathers with the existing tenant on the back unit.
Here is a link to the advert Just seeking any other suggetions?http://www.realestate.com.au/property-unit-vic-wodonga-405173386 Thanks in advance. Shell Hwow nothing wrong with that, the price seems very reasonable to me. Yes I think internal photo's would help and also more information on extra's ie. heating, cooling, hws
Is there a glut of rentals on the market at the moment?Hey Shell,
I know it’s hard but try to hold your nerve on this. I went through a similar situation with one of our properties in North Fitzroy.
Finding a good tenant is one of the keys to happiness.Extra photos will help you, and looking at some of the other properties in the rental market up there, it shouldn’t be too long until you’ve found someone.
All the best,
BreeceAny reason why there are no photos of the inside?
Also, how often is your real estate agent opening the property for inspection? Are they opening it at times when people can actually show up? Maybe get one of your friends to be a fake prospective tenant and test out what the agent is doing.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
ps if it were me, I'd get some garden rocks from the nursery and create a garden bed along the front of the unit. Put some lavendar and so on it it. Pretty, low maintenance, smells nice….
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Agree with some of the other posts – some photos of the inside would help.
Jac’s suggestions could work wonders as well. Cheap, low maintenance, appealing – might even add a little value.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
a better advert wouldn’t go astray.
Now if everyone on the forums can email the agent you might cause a stir.
The local paper has never failed me. I did this in the local paper for The Entrance NSW 2 weeks ago and had 30 applicants. I interview the tenants and have never had an issue in any of my properties. The result is generally the same in all suburbs given you have bought in a reasonably populated area.
Wodonga is suffering a bit with attrition on both tenencies and pricing, simply because there is a lot of property out there in the area at the moment and really … not a lot of either working or quality tenants to fill the demand. At $195 for what you are offering you are probably well within pricing range for the type of property you have.
However, on the same note having looked at your advert, its making the place look very barebones and not very appealing. Just remember a tenant will scoop up or browse a list of 20+ properties and yours has to stand out from all the others. Otherwise he wont even go for a looksee.
My gut feeling is your property agent isnt doing enough to push your property. If you have any doubts about this, go check around and make a comparison with other agents rental lists. If you arent getting the letting or the service .. MOVE. Its your pocketbook thats bleeding, not the agents.
Aside from that, realise you are in a market in Wodonga where properties on the fringes of Wodonga (and West Wodonga is the fringes of town) will take longer to rent simply because the market demand is being satisfied by properties further in being advertised at competitive prices. Outside of selling, the idea is to get a good tenant in, and dont worry about the price. If times become good again you can worry about swapping or changing tenancies. But in a tougher market, just get someone of quality in at any decent price.
In a tougher market tenants will be a rarer commodity, and you want your property to be filled, and not empty.But even in a tougher market your property should have someone within six weeks of advertising. If it doesnt, you should be asking why.
Hi ShellH
Personal opinion and suggestions.
Positives.
Ad says
next to parkland,
BIRs,
split system air con
gas heating
Negatives
photo shows a window rattler, not a split, rattlers are not popular
very bare
no internal shots
unemotional ad (could say "ready to add your own touches" , or " add your own garden "
no mention of kitchen or bathroom features
no mention of parking featuresYou could write your own ad and send it to the PM.
Offering a free week's rent should stir up something,
better than watching another empty week go by.
You could ask the PM to put a sign on the lawn "For Lease", as some people
tour an area before visiting agents.
Good luck
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I really do think that the bare yard communicates "landlord provides the bare minimum for you and does not care at all". Do think about putting in a cutie little garden bed, and absolutely get some interior photos happening – preferably with the place looking cosy. You'd be amazed what you can do with lighting effects (ie lamps), colour (eg wall pics, plants, bunch of flowers on a table) etc… basically make it look as though whoever lives in there has an ace life.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thanks so much everyone for your help & suggestions. I cannot tell you how much I appreciate it.
I spoke to the agent yesterday who told me he had taken some internal shots to add to the web. Even after another follow up request from me today & his assurance that they would be on there this afternoon they are not there…GRRR
We are heading up to Wodonga tomorrow and I will be going round to the unit to tidy up a bit and look at some of the beautification suggestions everyone has made. Along with meeting with other agents as I really don’t think this agent is working out for me.
I am hoping that with the offer of management of the two units one of the agents up there will be willing to give us good service (not holding my breath though!).
Thank you all again for your fantastic feedback. I truly don’t know what I would’ve done in the past 3 years without all the information I have gathered from this site!
Hope you all have a great weekend.
Shell
Shell H wrote:Along with meeting with other agents as I really don’t think this agent is working out for me.Absolutely! Was thinking you needed to get rid of the current agent but looks like you’ve already got that sorted.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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