Belle Property Beecroft

PROPERTY MANAGEMENT Over the last couple of years record low interest rates have seen new buyers purchase property where previously they would have been renting.An oversupply of rental properties coupled with new developments flooding the market is not good news for landlords. In a tenant’s market, landlords must aim to minimise vacancy rather than maximise returns.Tenants submit applications for multiple properties and are extremely price sensitive. Securing a reliable long-term tenant should be the focus so landlords can ride out this market imbalance.A market rent is better than a vacant property – income is generated and capital growth on the property is still where the real money is made. We do not expect short term improvements in this market. Interest rates will need to rise considerably to shift potential buyers back to renting and the glut of available properties must be leased before conditions are more favourable towards landlords. Give our property management team a call if you'd like some expert advice on getting the best return for your investment property.