Hello all,
I have been on the phone to my lawyer in Brisbane this morning about business and in the discussion he told me of an article about the rental market in SEQ and down to the Gold Coast.
There are over 250 properties up for rental for around $350,00 with an average of 4 responses on each but the tenants are only offering $280.00 or they stay vacant.
So is there a shortage of rental properties?
This happened back in the 90s in the recession we had to have.
Will this happen in your area.
I will endeavor to get a copy of the report for you.
INFORMation is our most valuable commodity.
I have always said that tenants are not stupid people, it is very important what type of investing strategy you have to protect your self from this. I had a 1 bedroom unit (still do) in Balmain that was vacant for 9 months in 1991
Philip Sigglekow
LREA author.Grin & bear it.. Take the offer, kick them out after 6 months if the market has improved & you can’t negotiate an increase. It is often better to accept a lower rent of $50-70 p/w than to get nothing at all.
Rents in my areas of Ashgrove, Bulimba, Ningi, Kingaroy and Hampton (Vic) are steady and rising.
A blow ouot in available rental properties and lack of tenants was inevitable with the bgross over supply of properties combined with inflated prices for interestate investors leading to negative equity and forced sales after the GFC. Rentors are the ones with the balance of power not as opposed to landlords when there is a limited supply
Hi gang,
Depends on the area. We want to move areas and rent somewhere else. Each open has a queue and also has so many people you can barely see the house. Even where we are renting now we were lucky because we were the 1st people through the door.
If there is an oversupply in an area then rent needs to be under what everyone else is charging. We learned this pretty quickly renting one of our units out. Funny what a difference $10 makes. QLD is thrashed at the market both for rents and gains by the sounds of things.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
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