Hi Forumites,
I had a call on Friday from my Property manager, who informed me that my tenant was making noises about moving on from my 4 bedroom IP in Nicholls as they had noticed they could get the same for much less.
I noted my surprise that I'd not noticed a significant drop in the house rental market and queried whether the tenant would remain if we dropped the rent and what would likely to be accepted.
The PM suggested the tenant had in mind a drop in the range of 60-30 from a low 600's rate. I concluded the call telling the PM I'd research and discuss further.
I've had a cursory look around to discover that whilst units are being talked down in Canberra, houses don't appear to have suffered the same fate.
Any opinions as to the state of the housing rental market in the north of Canberra?
Regards,
Jack
I had a call on Friday from my Property manager, who informed me that my tenant was making noises about moving on from my 4 bedroom IP in Nicholls as they had noticed they could get the same for much less.
I noted my surprise that I'd not noticed a significant drop in the house rental market and queried whether the tenant would remain if we dropped the rent and what would likely to be accepted.
The PM suggested the tenant had in mind a drop in the range of 60-30 from a low 600's rate. I concluded the call telling the PM I'd research and discuss further.
I've had a cursory look around to discover that whilst units are being talked down in Canberra, houses don't appear to have suffered the same fate.
Any opinions as to the state of the housing rental market in the north of Canberra?
Regards,
Jack