Hi,
Have anyone heard of Sunbury in Melbourne?
I have one property there and has been vacant for about 4-5 weeks now. Couldn't find anyone to rent. Im getting worried!
There are also many rental properties available in the area on the market at the moment.
The main issue is price – the closer you are to the market the sooner you will lease the property. Even if you drop below market to rent it out quicker you will more than make up for the drop by having leased the house out sooner rather than losing $200 per week waiting for the extra $25 which may take another month.
Yep agree with SNM. The only reason would be that it is too expensive. Every house in Australias capital cities will rent quickly if the price is right.
Cheers,
LukeThe property is currently at $10 below market rate, but still not many people go to inspect the property:(
Hi Elisey
Where is it advertised? Is it being professionally managed? If so, what feedback have you received from the PM?
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]
Elisey
Just remember that if you have to go $50.00 under market value at least you have stop the flow of cash out of your pocket and a percentage of the drop can be claimed on your tax.
Also make sure you are using the ITWV form so you get your depreciation back weekly if on PAYG.The prop. is managed by a real estate agent and also advertised on the realestate.com.au website. Was told that not many people inspect the prop. and there are also many prop. available in the market. And those who are interested are not a good tenant (based on their reference).
Elisey
That can happen.
Consider a new agent or go get them of there date and do something.
They are the ones getting all the money for no risk!
BluegrassWhat are the description and images like on realestate.com? Also, there should be a little box that tracks the number of visitors to the link as well – that will give you an idea of how much interest the advertisement is attracting.
Perhaps call some other PMs in the area and ask them what their current demand is like.
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]
What features does it have ?. What makes it stand out from all the other properties on the market !
Does it have a nice garden
Does it have central heating
Does it have evaporation cooling
Does it have cooling
Does it have neutral colour schemes.
Does it have a carport
Does it have carpets as some tentants prefer polished floor boards.
Does it have a water tank
Does it have nice light fittings
Does it have curtains
Does it have the option to rent a BBQ or does it have a deck under a pergola.
My all time favorite and most important for Tenants DO you have built in wardrobes ?
Do you have a toilet roll holder in the toilet
Do you have towel rails in the bathroom
Do you have a vanity mirror in the bathroom
Do you have broadband wired up in the house !Do you allow pets in the property good rent marketing point maybe you let dogs in back yard
My tenant has a dog and I do not think they will be moving too soon as they know I know about the dog in the backyard as I found out about the dog when I got the fences replaced. They also know I do not mind the dog in the backyard .
You sometimes have to think like a tenant
duckster wrote:Do you allow pets in the property good rent marketing point maybe you let dogs in back yardMy tenant has a dog and I do not think they will be moving too soon as they know I know about the dog in the backyard as I found out about the dog when I got the fences replaced. They also know I do not mind the dog in the backyard .
You sometimes have to think like a tenant
Good point. Allowing pets may increase the demand. Properties that allow pets are few and far between – if you’re agreeable to this approach, it could help you fill the property. You might also land longer-term tenants.
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]
you could always try putting an ad up on gumtree too? loads of people there looking for accommodation. depends on your target market for tenants, as gumtree does tend to attract more younger couples, single parent families, student groups and some single mature age tenants. well in perth it does at least!
Could you make your ad stand out with some marketing, perhaps offer tenants one week free rent for a minimum 6 month lease signed before 5th July? Do this without dropping your rent again, otherwise you’d be struggling to recoup costs.
The ad is very simple, in point form. Pictures are good. There are about 500+ "web – visitors" and yet, after being on the market for 5 weeks, still couldnt rent out. I am getting depressed.
Anyway, I just rang another real estate agent. Was told that the demand is good in the area. And it could rent out for ard $425-450 and can rent out within a couple of weeks. That is about $100 more from what it is advertised now. I have a look at the realestate.com.au website, most houses are ard $350 mark. Rarely go to $400!
I'm in doubt to change to this agent.
With the gumtree website, can I advertise or the agent can do it?
Thanks guys for the feedback
If you are having issues leasing it but getting pleanty of people through who are just bad applicants, could be price. People who are desperate for a house but know they probably won't get anything due to a bad history will pay any price you ask!
If you aren't getting through then it is either the price, advertising OR presentation of the property once you get inside (which could come back around to price). Re-jig the advertising, go through the property, how is it looking? Does it need a paint? Are the carpets worn? What are other properties in the same area looking like compared to yours. They are your competition and where people will be going over your property – there is a reason for that!
Suggest trying more advertising where renters can find you. Gumtree attracts lots of backpackers etc, well know in UK, Have a look at other sites like rent.com.au and domain as well.
Make sure you load photos to your ads so people can see what the property looks like, saves getting time wasters calling you.
If its a tough market think about offering a week's rent free as an incentive.
No, I am having no problems renting. Just finished putting rents up.
Just find a private landlord. I have never come across a private landlord who did a credit check. They will want a reference from your previous landlord or several personal references if you have just moved back to the country. Other than finding a private landlord and explaining the situation and offering perhaps to pay a couple of months rent up front, I think you are going to find it difficult.
Hi Elisey,
Can you put the link up? Plenty of perfectly good houses have been ruined by a poor description or really bad photos.
What's your target market? What do they want? Does your property have these things? Is your agent proactively speaking to people when they phone up, or come in?
Good luck
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeConsider also the season. It is likely there are less people looking to move considering its in the dead of winter at the moment.
How long were the previous tenants in your property? Is it requiring a a quick paint or new carpets to bring it up to the standard in the area? Agree with the pet option mentioned above too
Holly
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