What if… the property is vacant
Our office understands that many investors rely on the weekly rent to meet mortgage commitments and every endeavour is taken to minimise vacancy periods. Why do properties remain vacant?
The rent is too high
The market and the tenants determine rent. We are constantly monitoring the market rent to ensure that you are receiving the maximum return on your investment. High rents can lead to long-term vacancies, which ultimately affects your income.
High vacancy rate
If there is a high ratio of properties to tenants it will have an effect on the vacancy factor. Tenants have more choices and are in a stronger position to negotiate on rents.
It is important that the property is maintained in an excellent condition to attract the same quality of tenant. A tenant will often have a choice between 2 or 3 properties.
Accessibility to local facilities and transport.
Often the property can be maintained in an excellent condition, the rent is at market value and it still remains vacant. This could be due to its location. Tenants today (due to the supply and demand of properties) can be choosey. Often they require a property that is close to town, shops, clubs, beach, transport, schools etc.
Every endeavour is made to locate a quality tenant to suite your investment property and we will keep you updated on a weekly basis on our progress with obtaining a tenant, or even sooner if an application is received and processed ready to discuss with you for approval!