AS the end of school holidays gets closer and the streets start to fill back up with cars it surprises a lot of people to know that one section of the local property market will be closing out one of its busiest annual periods.
January is harvest season in the rental world and with just over 2000 properties available in the 4005 and 4006 postcodes there is quite a lot for the hungry pack of tenants to chose from.
The market is currently performing to the script with huge numbers of tenants, viewing and applying for properties across the city.
The seasonal upswing is obviously driven by many transient tenants looking to lock in somewhere to live before the school year starts.
This wave of prospective tenants is music to the ears of many inner city investors who faced extended vacancy periods and downward pressure on rents during 2017.
The inner city market saw rents drop as much as 30 per cent and some properties sat on the market for well over 30 days.
Tenants will need to be fast, and prepared, to ensure they get their preferred property. It is quite common for 10 minute inspections to see people queued down the street and for properties to receive multiple applications.
For tenants who are looking to secure a property here are a couple of tips to get your application to the top of the pile:
1. Have pre-filled in applications, letters of reference and proof of income ready to be handed in. Most agencies have examples of their applications on their websites and the vast majority of application forms don’t change all that much from agency to agency.
2. Have your employer and referee’s ready for the call. A sluggish response to the agents inquires can mean you’ll miss the boat.
3. Present like the ideal tenant, be courteous and polite. Once you secure a property you and the property manger will have a working relationship, so it makes sense that they will present the application of the person they like more favourably to the owner.
4. While property managers can’t ask for more than the advertised rent it is quite common for tenants to offer slightly more than the advertised rent to make their offer look more attractive. In some cases tenants even offer a lump sum advanced rent payment to edge out the competition.
5. Finally, January is hectic for Brisbane property managers, don’t shoot yourself in the foot by complaining about response times, it won’t help your chances.