Hello,
I posted late last year about the Brisbane rental market and how we were finding it quite soft. It is traditionally weak in most states in December but we find Brisbane especially slow leading into Christmas. We had found the rental market had softened in the proceeding 6-9 months anyway so added to the traditional quiet times we ended up having through the Christmas -New Year period 8 vacancies and knowing we had 6 leases expiring in Mid Jan.
Pleased to report the enquiry levels have been very strong and all 14 properties have been re-let with several having a 5-10% rental increase, we now only have one property vacant which was listed yesterday and not available until end of Feb.
It will be interesting to see if this becomes a trend or is just a seasonal occurrence, the activity does seem stronger than normal so time will tell. We were not expecting a significant upturn in the rental market so it will be interesting to see how it plays out.
We always try and have leases end in mid Jan and avoid December if at all possible, sometimes it is not possible but should be achieved whenever it can be. Landlords who had vacating tenants in Jan had absolutely minimal gap and in most cases received a rental increase, a much better result than those
landlords with leases ending in December.
Regards
NPB
I posted late last year about the Brisbane rental market and how we were finding it quite soft. It is traditionally weak in most states in December but we find Brisbane especially slow leading into Christmas. We had found the rental market had softened in the proceeding 6-9 months anyway so added to the traditional quiet times we ended up having through the Christmas -New Year period 8 vacancies and knowing we had 6 leases expiring in Mid Jan.
Pleased to report the enquiry levels have been very strong and all 14 properties have been re-let with several having a 5-10% rental increase, we now only have one property vacant which was listed yesterday and not available until end of Feb.
It will be interesting to see if this becomes a trend or is just a seasonal occurrence, the activity does seem stronger than normal so time will tell. We were not expecting a significant upturn in the rental market so it will be interesting to see how it plays out.
We always try and have leases end in mid Jan and avoid December if at all possible, sometimes it is not possible but should be achieved whenever it can be. Landlords who had vacating tenants in Jan had absolutely minimal gap and in most cases received a rental increase, a much better result than those
landlords with leases ending in December.
Regards
NPB