Finance advice

What investors need to know about rising vacancy rates

By Hannah Blackiston
What investors need to know about rising vacancy rates

Smart Property Investment spoke with a leading industry expert to find out what investors need to know about rising vacancy rates and how a property manager can help you negotiate the new rental landscape.

“If you look across our real estate network [Starr Partners], we manage over 12,000 properties. This time last year our rental vacancy rate was around the 1 per cent mark, now it's somewhere around 2.5 per cent. Speaking to people across the industry as a whole, it’s a general theme. We're not slacking, we're not working any less, it's just the market,” said Doug Driscoll, Starr Partners CEO.

But Mr Driscoll insists it’s not a crisis, it’s a chance for investors and their property managers to educate themselves and become savvier in the rental market.

Mr Driscoll said it’s important for property managers to work with their landlords on education, addressing topics like how the area market is changing and what tenants in the area are looking for.

“[Property managers] can minimise the damage by continually educating landlords, continually giving them a better understanding of what else is out there, what's happening to the price of rents across that suburb, or Sydney as a whole. What tenants are looking for [in that area]. Is it something like a gleaming new bathroom, is it the latest aircon unit – whatever,” said Mr Driscoll.

Investors should communicate with their property managers if they are concerned about rising vacancy rates in their area; a property manager should be able to give you more information about how this will affect your property and what you can do to put yourself in a better position in the market.

Mr Driscoll said the vacancy rate rise has been on the horizon for a while, especially with the amount of new developments hitting the marketing in capital cities around the country, but it has come slightly earlier than he anticipated.

Despite this, he thinks it’s important for agencies and landlords to react now, before the problem escalates.

“In my opinion they will continue to creep up, this isn't a blip, this is the new norm as we head into 2017 so get used to it and adapt to it and understand what you can do internally to address the new landscape,” said Mr Driscoll.

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Tune in to the latest episode of Property Showcase, the podcast with the inside track on the products and businesses that will help turbocharge your portfolio, maximise returns and make your overall investment experience seamless and stress-free!

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To hear more about these services, make sure to tune into this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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Many investors who would have been successfully approved for finance last year are struggling now to either begin or continue their property investment journey because of the current financial climate.

In this episode of the Smart Property Investment Show, broker John Manciamelli and Momentum Media director Alex Whitlock joins host Tim Neary to discuss how APRA changes and the royal commission have resulted in a tighter lending economy and what that means for Australian investors.

They discuss what traps investors should avoid if they are trying to obtain finance, the four key growth drivers in a property market and unpacking trust structures while revealing one type of trust that you should miss.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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More than just bricks and mortar, experts often regard property investment as a ‘game of finance’. As such, a good finance strategy can lead any investor to success.

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When buying property, it’s important to focus on what’s important. Investor Katarina Taurian shares just what exactly is important to her: having the mindset of looking past superficial cosmetic matters and homing in on the structural suitability and potential of a property.

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In this episode of the Smart Property Investment Show, Katarina joins host Tim Neary to unpack her entry into the property market and experiences of rentvesting, and how the Smart Property Investment Show was vital  in a number of decisions which she made along the way.

Katarina discusses about the team that she had help her along the way, why she thinks that you should never skimp on a good solicitor and accountant, and the red flags which tell her why buying a new property doesn’t necessarily mean buying a better property.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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The different reasons to start rentvesting

 

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More than just bricks and mortar, experts often regard property investment as a ‘game of finance’. As such, a good finance strategy can lead any investor to success.

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Why buying new property doesn’t mean buying better property

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