Property Management
Investment Insider November 2024
19 November 2024
by Dee Pajevikj
With the robust winds of spring in its sails the Melbourne rental market is remaining strong heading into summer. The vibrancy of the market is being driven by the seasonal influx of young professionals and families, as well as international students returning to Australia. Vacancy rates remain at near non-existent levels because of the Federal Government’s continuing unprecedented immigration levels. No more do we hear the cries of lessors lamenting empty properties, nor the rumblings and grumblings of property investors enduring an income-free period. In this golden age if you don’t have a tenant perhsps you have unrealistic expectations of the level of return your investment can achieve.
All the market thinktanks agree that vacancy rates will remain low in the short to medium term, meaning a continued competitive market for renters and good rent for landlords. This, though, shouldn’t encourage landlords to relax into the kind of look-away complacency that leads to a downgrading of their market value. New market dynamics are constantly on the horizon and surest way to navigate them is to keep investing in your assets – this means maintaining rental properties to an exacting standard and setting, or allowing us to set, rents at fair, competitive prices. Attracting “quality” tenants is the key piece of the rental jigsaw puzzle, after which all the other pieces are prone to fall into place. Good tenants are a Godsend, and good tenants are drawn to good property… it’s that simple.