Landlords – consider the pet-friendly route to a 10-15% rent premium!
If you have an investment property then you have an interest in the real estate market. If you have an interest in the real estate market then you’ll be fully aware of changes in recent months. The long-running seller’s market suddenly switched to a buyer’s market with prices sliding steadily over a few months.
A buyer’s market in sales translates to a tenant’s market in rentals. The pool of potential tenants decreases as more people opt to take advantage of falling prices and buy their own home. Add to this the enormous number of new apartments going up everywhere you look and supply is beginning to outstrip demand by some margin. Tenants have more to choose from and they’re becoming more selective and demanding.
The number of Australian’s renting is officially on the rise. While this is great news for residential property investors, it’s not the only thing heading north.
In recent years, tenants who are illegally subletting to strangers, especially tourists and holiday-makers has increased at an alarming rate, leaving the property owners exposed to a range of risks and costly consequences.
As a landlord, you want the best tenants for your properties. But invariably, even the best tenants have demands. And responding to requests, queries and maintenance issues can be time-consuming and stressful. This is where a good property manager can assist.
Property managers are a third party that act as an intermediary between the landlord and the tenants. They listen to the complaints and concerns of tenants, and resolve issues to ensure both parties are happy.