Even with the cost of rental properties rising, we haven’t seen any decrease in demand and we continue to have a steady demand for the larger family homes. Ray White’s Chief Economist Nerida Conisbee noted in a recent article that even with inflation affecting the rental market, ‘renters right now with secure leases, we are not seeing a rental crisis. The crisis, however, is occurring for those who are looking for a rental property right now, whether that is because their lease term is over, they are looking for a bigger (or smaller) property to live in or they have moved to a different geographic area.’ This may not remain the case – with interest rates continuing to rise we may see more renters impacted as leases come to an end and rental providers look to pass on their rates increases.
Our property management team has been busy over the last quarter as we’ve seen significant growth in our rent roll. We’ve welcomed a number of new rental providers who were looking to make a change to their property management team. Many have chosen to make the change due to the lack of experience currently in the industry, following the departure of many property managers from the field. Now, more than ever, as a rental provider you need an experienced agency looking after your investment property to ensure both you and your investment are in the very best hands.
Supply of quality homes in the rental market continues to be an issue and is reflected in the increase in rental prices in the area.
For More Detailed information on the Current State of the Investment Property Market Click Here to View Lastest Report