The rental market appears to hold strong for investors, with supply in many areas continuing to fall short of demand.
Solutions Property Management continues to process hundreds of applications per week for a reduced selection of properties, resulting in a low office vacancy rate of under 0.5% for the past few months.
Many investors are now finding themselves in a position of strength, enjoying short vacancies with the luxury of being able to be selective with their choice of tenants.
It also means that after years of static rental prices in some suburbs, we can finally start gradually increasing rents – both for new tenancies and lease renewals. This is refreshing news for investors, who have had to absorb increases in costs associated with owning an investment property without a corresponding increase in rental income.
It is important to note that the rental market can vary dramatically depending on the suburb, so if you think your property should be earning more rental income feel free to give us a call on (07) 3888 0098 for a no-obligation chat.