“Strategies to combat this include signing tenants for nine or 18-month leases – rather than the standard six or 12 months – so investors are not exposed to seasonal fluctuations.”
Walsh says current market conditions mean it is important to find innovative ways to market rental properties.
“Given the large number of property investments across Sydney, traditional forms of marketing may not work in certain markets.
“Investors should be looking at premium marketing packages on major portals, targeted social media campaigns, illuminated or picture signboards, and where appropriate placing virtual furniture in vacant properties.”
Walsh says drone footage should also be considered if a property is conveniently located close to education, medical or transport facilities.
“We’re finding there is a high demand for good quality family homes, single villas and large townhouses. On the other hand, dated apartments and units without car parking are becoming a challenge to lease.”
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