Tenants in a Stronger Position during the Winter Months

Rents become price sensitive as winter market sees more properties available for lease than tenants looking.

The ‘Winter Market’ is now upon us and we have already seen a decline in numbers. This is where pricing becomes important and as agents we become very cautious around this time of year. We have found there are many properties available for lease at the moment but not a lot of people out there looking. Prospective tenants have options and it is important to make sure that your property is presented and priced at its most attractive.

Sometimes, having your property priced only $5 to $10 dollars below the market will be the difference for someone and could secure a good tenant in a short amount of time. The benefit of securing a good tenant who moves into your property sooner rather than later, means you will be able to maximise your return as a property investor. For those landlords who want to 'hold out' for their ideal rent and have it sit on the market vacant for an extended period of time could actually find their property is costing them rather than producing an income.

June Statistics from Doyle Spillane Property Management

Tenant Inquiries: 729

 Inspections scheduled: 211

Days on market: 15

Tenants registered to inspect: 496

 Applications received: 105

 Properties leased: 33