REIWA data shows that during the December quarter the metropolitan vacancy rate grew further to around 3.2 per cent as more than 700 additional rentals came onto the market. That’s an increase of 135 per cent since late 2012 with more than 4,800 rental properties currently available for lease through REIWA member agents alone.
In response to the competition the Perth median rent came down by $10 to $460 per week and representing a drop of $15 per week since the middle of last year.
It seems that the downturn of jobs in the mining sector as well as many former tenants having now become first home owners due to low interest rates, has caused the rental system to relax a little.
It is now more important than ever to ensure your Managing Agent has the correct procedures in place to ensure they are capturing all prospective tenants in the current market place. At M Residential since initiating an online booking system, we currently have over 10,700 prospective tenants on our database with an average of 760 prospects looking at properties we currently have available at any one time.
We also market our properties will full video tours to ensure prospects that are registered to view are ‘prequalified’ prior to stepping through the door.
If you would like to know more about M Residential managing your investments then contact Laura Levisohn on 08 9367 5677 or firstname.lastname@example.org