Atlas Market Insights

What properties are we seeing on the market? Market quality is seemingly low. Just the other day, I was browsing for rental properties and none of them seemed to be well maintained. Low market quality is a big issue in Sydney inner city rentals at the moment. Landlords became complacent as the convenience of inner-city properties used to outpace the need for comfort. As people look further afield due to work-from-home conditions, poor quality properties simply will not be leased. However, quality is something that landlords and property managers can easily control, unlike market conditions. Standout properties are likely to be snapped up, so take advantage of this opportunity. How can an investor make their property stand out? A standout property is far more likely to rent, and the first step is to update your investment. Landlords need to make their properties more modern. This doesn’t necessarily have to be an expensive fix; it could simply be updating paint, flooring and light fittings. But this small update will go a long way in the market. To give your property an edge, it is also vital to aim for perfect quality of the home. With extra competition on the market, weathered floors or unmanicured gardens can set your property behind another. Ensure you are maintaining it and keeping it sparkling for inspections. Unique properties are seemingly the ones that are being snapped up. Heritage style buildings and loft style apartments are being secured by renters at a premium. Embrace the different aspects of your property, as this could be what makes renters fall in love with the home and compete for the lease. Once you have followed these steps and have tenants move in, it is important to keep them for as long as possible to maximise your rental returns, provided they are reliable lease holders. Employing a property manager who is enabled by cutting edge tools such as Managed App will ensure excellent communication and maintenance of your property. This is likely to encourage tenants to stay and will increase your return. 21