Latest Property Management News
Property Management Newsletter
Friday, March 06, 2009
What a month it has been in the Property Management Department of Baird Real Estate. Throughout February we have been running with a vacancy rate of less than 2%. We are struggling to find our quality tenants properties to rent in a variety of different price ranges.
Keeping up with demand has been made even more difficult with the Government’s First Home Owner’s Grant being increased in late 2008. This has resulted in a number of properties which were previously used as rental’s now being purchased by “first home owners” hence decreasing the number of properties available.
The good news for landlords is that, dwindling available properties can possibly result in greater returns on your valuable investment.
If you have a family member or friend that may be concerned, the rent they are receiving for their property may be below market value, and would like an up to date opinion of rent, do not hesitate to contact either Joseph or Ashlee.
It is also important in these times of economic uncertainty, that your property manager is making sure your tenants are up to date with their rent. If for whatever reason your tenant is unable to pay rent on a particular occasion, this may result in your tenant being behind for several months, struggling to catch up – leaving you to make up the shortfall in the interim.
Our company prides itself on its arrears. We are currently running at an arrears level, for 7 plus days, at less than 5%. This has been achieved by making all new tenants step up a direct deposit for the rent, thus eliminating the need for tenants to find time to pay rent at the bank.
RECENTLY LEASED PROPERTIES
5 141 Wine Country Drive, Nulkaba – $450 per week
5 51 Clare Street, West Cessnock – $350 per week
5 161 Mathieson Street, Bellbird Heights – $300 per week
5 75 Adams Street, Heddon Greta – $280 per week
5 4 Villis Street, West Cessnock – $250 per week
5 18 Alexander Street, Cessnock – $240 per week
- Ashlee Murray & Joseph Lorriman