Supply and Demand in Tenants’ Favour: Counteracting the Trend

A quick glance on RP Data shows many Brisbane rental properties dropping by an average of $50pw over the last year.

Is it a simple case of supply outreaching demand?

With an average weekly rent that’s 10%+ above the Brisbane average (for a 2 bed apartment), you might wonder how we’ve counteracted the trend.

It’s all in the details. Images taken at the right time of day to showcase your property. Story-driven copy that puts the tenant INSIDE the picture and an application process that encourages fast decision making.

Of course, branding has a lot to do with it.

Branding is the process of influencing the perception of a product – the product being your property.

Is your property being branded right? Have you checked how it’s presented online? Is it being marketed with empty rooms and copy writing that’s features driven and devoid of emotion?

Naturally that’s going to drive your price down.

We know how to fix that and make your property rise above the rest.

Another tip is to get the price right from launch date on the internet.

This is important, because if you get it wrong, your vacancy rate goes up, and your price comes down. Of course, we want to avoid this at all costs for you.

Some landlords wonder if they should furnish their apartment to attract a higher-paying tenant.

The number of tenants seeking unfurnished dwellings far outweighs those seeking furnished. Furnished properties tend to attract shorter tenancies, therefore leading to higher vacancy rates and higher fees for the landlord.

In a nutshell, we recommend that unfurnished properties are faster to rent, attract longer tenancies and have less vacancy.

One last idea to counteract the trend is to have air-conditioning in not just the living area, but also a separate system in the master bedroom. Tenants love that!

 

 

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Supply and Demand in Tenants’ Favour: Counteracting the Trend