Reasons why your property isn’t tenanted

By Janet Spencer

Reasons why your property isn’t tenanted

There was a good article on the 17th of March published by Property Observer, written by Diane Low and entitled “Reasons why your property isn’t tenanted”.

Buyer Solutions manage investment properties and there are many reasons why properties sit vacant.  Your rent must be at market level.  Tenants know how much properties are worth and make sensible financial decisions when picking which property to lease.  If your property is overpriced, it may sit vacant.

As a business, we want Landlords rent to go up because our income is based on a percentage of that rent, however if tenants push back, we need to constantly review what rent is achievable.

Buyer Solutions always recommend that investment properties be marketed with high quality professional photos,

Our property managers research vacancy rates well at the time of leasing and also look at supply of competing properties available at the time to advise our landlords well.

We also advise landlords to keep properties well maintained and offering tenants what they need in current lifestyle trends.  eg. air-conditioning and heating, watering systems on gardens, possibly tank water for watering outside and good insulation in ceiling.

If you own an apartment, be aware that there are lots of new apartments being leased and being built at the moment in Melbourne. These new properties compete with yours for the tenants actively looking for a new home.  So, your property must compete or will attract a lower rent.

Buyer Solutions boutique rental department can help.  We have an excellent track record in leasing investment properties and looking after assets for our clients.  For more information contact rentals@buyersolutions.com.au

 By Janet Spencer

Buying property, Housing Market, Investment, Investment property, Landlords

Buyer Solutions, investors, Janet Spencer, landlords, property investment, rentals, vacancy factor