Toongabbie Area Property Investor Update February – March 2013

You may be staggered to know there was 31,839 mat­ters in front of the NSW Con­sumer Trader & Ten­ancy Tribunal last year with ten­ancy disputes.

We keep an eye on the out­comes of many of these mat­ters so we are able to provide you with rel­ev­ant advice in all areas of the man­age­ment of your property.

If you choose you can view a sample of cases heard at the Con­sumer Trader & Ten­ancy Tribunal at Con­sumer, Trader and Ten­ancy Tribunal of New South Wales

Our vacancy rate has stated stable at 1.2% this month, which is lower than the cur­rent aver­age vacancy rate in Sydney Met­ro­pol­itan area.

Properties Recently toongabbie 2146

TENANCY TERMS – What is best: 6 or 12 months?

Some­times the answer can be both or neither depend­ing on your circumstances.

There are no laws stat­ing that you must enter into a 6 or 12-month ten­ancy agree­ment term.

 

 

If the prop­erty is a long-term invest­ment then the longer the ten­ancy term (1 to 2 years) the bet­ter as it provides you with secur­ity of a ten­ant, reduces wear and tear from mul­tiple ten­ancy turnovers and will save you money in advert­ising, relet­ting costs and lost rent if the prop­erty remains vacant. How­ever, if you are con­sid­er­ing selling the prop­erty or are unsure of your future plans then a short-term ten­ancy of 6 months may be more suitable.

WHEN CAN NEITHER APPLY?

Dur­ing the year the vacancy rate can greatly fluctuate.

There are peak times of the year when prop­er­ties are in demand and other times where it can be more dif­fi­cult to rent prop­er­ties. By under­stand­ing the local mar­ket we can com­ple­ment the ten­ancy term to coin­cide with high demand times of the year.

For example: A ten­ant is look­ing to move into the prop­erty on 15 June request­ing a 6-month ten­ancy that would expire on 15 Decem­ber, which is not the best time of the year for a prop­erty to become vacant. We would there­fore request a 7-month tenancy.

If your prop­erty has a pool we also need to be mind­ful that the ten­ancy term does not expire dur­ing the winter months, as this may make it more dif­fi­cult to rent the prop­erty, as well as pos­sibly redu­cing the rent achiev­able in com­par­ison to the rent you could achieve in sum­mer months.

 

About 

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.

seven hills real estate agent NSW
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