Demand for Quality Homes

It’s interesting when you hear that there is such a massive demand on rental properties in Launceston, yet when you search the internet you find hundreds of properties for rent! Why is it so? Michelle from @home property management solutions say’s that “there is very much a shortage of affordable rental homes in Launceston, not necessarily an overall market shortage".

The demand on the average 3 bedroom family home between $230 and $280 per week is incredible Michelle say’s, family's are downsizing and sadly we are seeing more and more relationship break downs which has a dramatic impact on rental demand for single income earners seeking affordable family homes.

It seems however that average rents in the current rental market are more like $280 - $350 for a 3 bedroom homes and $240 - $270 for a 2 bedroom unit or house. For a lot of people these rents are out of reach and in today’s delicate financial climate more and more tenants are budget conscious.

Michelle say's that she has been managing residential rental properties in the Launceston area for over 12 years and since opening her new independent property management business in Launceston she has become more aware that tenants are demanding not only a higher standard of affordable property but also a higher standard of service. Tenants have much higher expectations, they no longer tolerate properties that are poorly maintained. The common complaints from tenants in the rental market today are;

"Properties being advertised on the internet that were rented weeks prior"
"We are subject to open rental homes where we feel like just another number"
"Our calls are never returned"
"We are not even given the courtesy of being informed when we are unsuccessful with an application"

Michelle comments that "there are plenty of quality tenants out there and not enough quality rental properties". Michelle also comments that "there are 4 main factors that contribute to property vacancy:

1. The rent is too high
2. Poor Presentation
3. Location
4. The property is being marketed poorly by the agent

In reality there are only 3 things that can change, unless you relocate the building! The presentation, the rent or the agent. It is up to the agent/property manager to effectively market the property and to advise the owner on improvements by providing regular feedback from prospective tenants. Most importantly, a poorly presented property will always attract tenants who don’t care, if they don’t care now, they won’t care how they live in the property and they probably won’t care enough to pay the rent!

If you have a vacant rental property in Launceston, you should be asking yourself why? because there is definitely a shortage of well presented, affordable homes for rent.”