hi all
just a heads up about a property that my partner bought in Chinchilla about a year ago. it is a furnished townhouse that has been returning $465/wk but the tenant moved out three weeks ago and since then, there have been no nibbles at all.
so it appears that we will have to have all the furniture moved out and take a hit on the rent from $465 down to $330/wk. that makes a significant impact on the cashflow, taking it from positive to negative.
i notice that spruikers are still offering properties in the area and claiming up to $500/wk rents.
api list rental vacancies listed at 5.8% in the area.
it seems that the initial apparent shortage has been dealt with and now there is a glut.
just a heads up about a property that my partner bought in Chinchilla about a year ago. it is a furnished townhouse that has been returning $465/wk but the tenant moved out three weeks ago and since then, there have been no nibbles at all.
so it appears that we will have to have all the furniture moved out and take a hit on the rent from $465 down to $330/wk. that makes a significant impact on the cashflow, taking it from positive to negative.
i notice that spruikers are still offering properties in the area and claiming up to $500/wk rents.
api list rental vacancies listed at 5.8% in the area.
it seems that the initial apparent shortage has been dealt with and now there is a glut.