Rental Market Update July 2018

Thank you for watching our Rental Market Update – July 2018

The month of July 2018 saw:
• VACANCY RATE 1.68%
• 876 TENANT ENQUIRIES
• 98 OPEN HOUSE INSPECTIONS – 429 ATTENDEES
• 184 APPLICATIONS RECEIVED
• 15 PROPERTIES LEASED
• AVERAGE DAYS ON MARKET: 24.3
• $390PW AVERAGE RENT ACHIEVED
• LOWEST RENT ACHIEVED: $300PW
1 BEDROOM UNIT IN RESERVOIR
(7/34 McComas St Reservoir)
• HIGHEST RENT ACHIEVED: $695PW
5 BEDROOM + STUDY HOUSE, SITUATED ON 3 ACRES IN DOREEN
(675 Bridge Inn Rd, Doreen)

Our landlord tip for this month is a reminder to allow enough time between tenancies. This is important because it allows your property manager enough time to arrange any repairs or further cleaning prior to the new tenant moving in. Also, your property may benefit from a freshen up, for example; some painting, new carpets or replacement of fixtures and fittings, even something as small as door stops. We recommend allowing at least 5 – 7 days for this as bad weather and unforeseen circumstances can occur. We also encourage landlords to view their property at the end of each tenancy.

Thank you for watching our Monthly Rental Market Update, see you next time!