Rental Market During Christmas
The Perth rental market has started to slow down which it typically does around this time of year. Even through the market is quiet, it is still possible to rent out your property in a timely manner to a suitable tenant.
If your property is currently being advertised and the enquiry is low, it is important that the following areas are assessed;
- Rent – is the amount competitive? How many others are there in the area and how much are they asking? Dropping the rent a little now can increase the chances of the property leasing and lessening the risk of the property sitting vacant over the Christmas period
- Presentation – is the property inviting to prospective tenants? Is it clean? Are the gardens well maintained?
- Marketing – are the photos showing the property in the best possible light? Does the description make you want to read more? Does it give you a feel for the lifestyle the property could offer
We generally advise that if a property has not leased after the first week in December, to take it off the market until after the new year. The advertisement will become stale by the time the new year comes around and pushes the ad to the bottom of the list so to speak as the property has been available for so long.
Should you have any queries with regards to leasing of your property, please do not hesitate to contact our Property Management team
Featured image: 51/20 Dean Street, Claremont