Had a chat with a PM in the Morley area and she is saying that there is a 4.5% Vacancy Rate in Perth. The normal is 2.5%. A while ago it was at 0%.
What effects these vacancy rates? Is it perhaps because more fhb bought their own property in the last 6 months and moved out of their rented place that the vacancy rate went up? Could that be an impact?
I asked her about the demand for 1 bed with communal laundry and she was saying that they are in demand and that usually they would rent for $210.
I'm thinking if i do buy this property that I'd start off advertising at $210 per week and if its not tenanted in 3 weeks then drop it down to $200.
What do you think?
The lower the vacancy rate is the better isnt it? Means more people competing for the same property pushing the rental up?
Higher vacancy rate.... tenants have more properties to choose form. Less tenants looking for property to live in which means landlords must decrease their rental?
Is that right??
thanks
What effects these vacancy rates? Is it perhaps because more fhb bought their own property in the last 6 months and moved out of their rented place that the vacancy rate went up? Could that be an impact?
I asked her about the demand for 1 bed with communal laundry and she was saying that they are in demand and that usually they would rent for $210.
I'm thinking if i do buy this property that I'd start off advertising at $210 per week and if its not tenanted in 3 weeks then drop it down to $200.
What do you think?
The lower the vacancy rate is the better isnt it? Means more people competing for the same property pushing the rental up?
Higher vacancy rate.... tenants have more properties to choose form. Less tenants looking for property to live in which means landlords must decrease their rental?
Is that right??
thanks