With increasing chatter about vacancy rates rising across Brisbane, Image Property is committed to providing premier service to ensure the utmost reliability for our landlords.
When rental vacancy rates rise within a city, the power shifts to tenants which provides them with increased choice and ability to negotiate rates and terms. With a more limited ability to be selective at the quality of tenants and applications, this can make investors nervous.
Furthermore, aside from losing the ability to increase rents, in addition, a high vacancy rate increases competition which can further drive the rental price down, creating a hole in the investor’s cashflow.
Rental vacancies are rising throughout Brisbane, in particular in the inner suburbs where a lot of new stock is coming onto the market. Currently, Brisbane has the second highest vacancy rate nationwide at 3.3% with only Perth sitting higher at 4.9%.
Hayden Gay, Principal of our Camp Hill office advises that Image Property is actively combatting this by utilising our extensive tenancy database, reporting that just over 2000 prospective tenants were actively looking for a residential rental property across Brisbane within the last thirty days.
Having access to a comprehensive tenancy database allows Image Property to achieve fantastic results in a timely manner for our investors, regardless of the vacancy rate issues that may be present in your investment suburb.
Don’t leave the tenancy of your investment property to chance in a burgeoning rental market. Vacancies in your rental property can push investors to the limit, creating high stress and desperation which can lead to choosing the wrong tenant for your valuable asset.
Image Property can offer skilled industry advice in the presentation of your property, lease conditions, property advertising and ensuring your property is priced fairly within the rental market.
With a large active tenancy database, Image Property can ensure that your valued investment attracts quality tenants in an effective and timely manner.