Old Toongabbie Area Rental Market Update
You need to stay competitive!
The rental market is definitely still challenging in our marketplace at the moment. There is a large amount of properties for rent in the local vicinity and whilst we are in most cases getting groups attending our open homes we are only receiving minimal applications due to the choice tenants have, so it is very important to ensure your property is presented well and priced accordingly to the current market conditions to avoid having a vacant property over the holiday period.
Coming into December our team will be working extremely hard to find good tenants for all our vacant properties, and whilst we understand that vacancy periods are financially very hard on our Property Investors please don’t give into the temptation of accepting a sub standard tenant who long term will give you more headaches.
The Rental Market
What we are seeing in the market at the moment is a large supply of apartments coming onto the market in Toongabbie, Pendle Hill, Wentworthville and especially Parramatta. So much so buyers are struggling to get finance and developers are dumping unit sites back on the market.
With the recent price boom what we are witnessing is that apartment prices are grown much slower than houses. All of this pushes rents down as renters have a smorgasbord of new apartments to choose from.
The Storms Are Coming.….…
Another important reminder as we head towards the end of another year and into summer which is renowned for storm activity this may be a good opportunity for you to review the insurance you have on your investment property as past Summers have shown and with the ever increasing extreme weather conditions we have faced in the past it is important to ensure you are adequately covered for all scenarios..
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.