Property Management Update August 2016
What a massive month we have had in August, with 41 properties being let, that’s 25% above last month’s rentals. This is an outstanding effort, and one we hope to see continuing through to the end of the year.
Vacancy rate is down to around 2.8%, which is a drop on last months at 3.2%, which again is ahead of the regional average of 3.3% - another great result and reflects the strong demand in the rental market at the moment.
Across the board we are looking at properties ranging from $150 p/w up to a maximum $500 p/w, with good demand in all of those ranges, which is great news for investors. As a renter, be mindful of getting in early with your application, having your documents for application prepared. Don’t miss out due to increased competition.
Finally, just touching on the 10-year anniversary of smoke alarm legislation. Smoke alarms are compulsory in all rented properties, an obligation on tenants and owners to maintain the alarm whilst the property is in occupation. Smoke alarms have an effective life of 10 years – so the 10-year anniversary is the time to check they are functioning accurately. Property Managers will be in touch to discuss the inspection of the alarms.
If you have any further questions, please contact the office of 6331 6555 or drop in to see us at 197 Howick Street Bathurst, the team are always happy to assist.
Director, Raine & Horne Bathurst