Property Management
Abercrombys Investment Insider November 2023
9 November 2023
by Dee Pajevikj
It’s a lessors’ market right now. Anyone who has tried to find a rental property recently will be familiar with the queues of potential renters, and the demands being made of renters, and the disappointment of missing out. Open a bottle of wine tonight to help shrug off the disappointment – and queue again tomorrow.
There just isn’t enough rental stock in the country at the moment to readily satisfy demand. Australia’s vacancy rate remains at a record low of 0.8%. Accepting the laws of supply and demand, this, of course, transforms into upward pressure on rents. Meaning it’s a fine time to be a landlord. Well, someone’s got to be enjoying Australia’s current cost-of-living troubles.
Industry experts are predicting an extremely active spring/summer rental market. So to any potential investor contemplating buying a property and installing a renter, the time could not be sweeter.
At Abercrombys, over the last month we have been achieving remarkable off-market results for premium rental properties through our database. Houses and townhouses for rent in both Stonnington and Boroondara are in short supply, unable to meet the rampant demand – we are routinely leasing properties before they even hit the market.
If you are contemplating the lease of your investment, be it house, townhouse or apartment, call our friendly and experienced property management team at Abercrombys and allow us to maximize your return.