Difficulty finding tenants for my IP

[triton07]

Hi All,

Has anyone got an IP in Blacktown trying to have it rented out? I’m asking this because; I have listed my Blacktown IP for lease & having troubles getting interested tenants.

Spoke with PM & they say that there is a lot of properties listed for lease in this area & rent price’s are slightly dropping, 6 months ago PM had a list of waiting tenants & now that has changed.

Does this mean we are having all these renters now purchasing their own home?

Cheers
George

 

[Witzl]

are you happy to have pets in your property?
If yes... then instruct the PM to put in the listing on RE.com.au the following:

"PETS ALLOWED"

... in big capital letters. Soooo many renters these days have pets, and most think that they wont be accepted on a lease if they have pets - so saying that should attract them.

I havent looked at renting in blacktown in the last 6 months, so no idea what its like now. I cant image it's *that* bad?

 

[troyhunt]

The only reason a normal property somewhere like Blacktown should remain empty is because it's priced too high. Drop the rent back down into the meat of the market. Better to shave 10% off the asking price than to have it vacant for a month. Review the rent in 6 months.

 

[fokas]

Get a new property manager maybe? *shrug*

 

[triton07]

Get a new property manager maybe? *shrug*

I have to IP listed with two agents & both recommended from this forum.

Rent price is at market value, that's by both agents recomended price.

With pet's allowed, no problem with tenants having pet's.

So looks like rent prices are to drop in the coming months?

ANYONE WANT TO RENT MY IP?


Cheers
George

 

[GoAnna!]

do you have a link we can see?

 

[troyhunt]

Rent price is at market value, that's by both agents recomended price.

"Market value" implies someone in the market is willing to pay. So far that's not the case by the sound of it. You might find only $10 or $15 a week needs to be dropped to gather more interest. It doesn't necessarily mean the whole rental market is falling, it could just be a combination of circumstances meaning it's harder to rent out at this time.

 

[Rob Williams]

Sometimes it takes less than a $10-$15 reduction to generate more interest. It might take just a $5 reduction to break a psychological barrier. For example $300 down to $295.

 

[Collector]

We have 1 vacant property vacant on our rental list - is been vacant for 5 weeks, similar properties have been rented during this time - their is one difference - we are asking $550.00 per week the others all leased for $520.00

The landlord does not want to reduce the price as this was what the last tenant was paying (rent increased $100 per week over last 2 years)

We had a offer of $530.00 7 weeks ago - landlord said no

so here are the calculations:

5 weeks x $550.00 = $2750.00 - this is what the owner has lost to date

52 weeks x $20.00 = $1040.00 - this is what the landlord did not want to lose


Its better to have a tenant at $10-$20 less that to have a vacant property for a substantial period

 

[Witzl]

how much are you asking, and for what type of property?
Got a realestate.com.au link for us?

I think the others are right - drop your rent $5-10/wk, and get your ad changed to read "PETS ALLOWED" on realestate.com.au.
I bet you'll generate some interest then
I know that as a tennant myself, i'll jump on a property that says pets allowed, cos i have cats. Likewise, anyone who rents and owns a dog is always worried their application wont be accepted because they have a dog.
And let me tell you, a lot of people in blacktown have dogs/cats!!

 

[boomtown]

Show us the REA.com listing. For starters maybe your photos are very bad.

 

[triton07]

At first it was listed at $370pw & then after a couple of weeks down to $355, still did not get any tenants interested even with the price drop.

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=13002664&s=nsw&tm=1234246508

The property has major renovations, as you can see on the photos & very close to station, shops, etc.


George

 

[boomtown]

Looks nice inside. I cant comment on price not knowing the area. The photos are a bit **** you need one from the other side of the house front not showing that unpainted pole. Also showing the back yard with shade sail might be nice.

 

[Rob Williams]

Get rid of that headline for starters!!!
"Don't judge a book by it's cover" screams out that there'e something wrong with it. Never advertise the negative. Emphasis on the positive. Gee, who thought that headsline was a good idea?
If it's in a flightpath, you don't say "You can't hear yourself think above the noise", you say "close to transport" or something like that.

 

[troyhunt]

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=13002664&s=nsw&tm=1234246508

Out of the 38 three bed houses in Blacktown you've got it positioned as the 8th most expensive in the suburb. Try critically putting yourself in a prospective tenant's shoes and justifying why you would pay more than the 30 other three bed houses available. The renos and position may not be enough to justify the premium in price.

 

[boomtown]

Yes the copy definitely needs to be rewritten. Call it BRAND NEW RENO or something. Emphasise how it is close to parks, cafes, train stops. Put in pet friendly if you are happy with that. Talk about the new appliances. BRAND NEW Fisher and Paykel washer etc. There isn't enough emphasis on the features. Mention the beautiful hardwood floors - talk it up.

 

[troyhunt]

Out of interest, why all the good work on the interior and nothing done on the outside? The first impression won't help secure the rental you're after.

 

[Collector]

Get rid of that headline for starters!!!
"Don't judge a book by it's cover" screams out that there'e something wrong with it. Never advertise the negative. Emphasis on the positive. Gee, who thought that headsline was a good idea?
If it's in a flightpath, you don't say "You can't hear yourself think above the noise", you say "close to transport" or something like that.

That what i though as soon as i saw it as well.


I can see a number of problems:

1. The heading - as a previous poster has said " Pets Allowed" (it does not mention this at all in the ad)
2. The photos - you could get a better photo of the front by taking it when the sun is shining on it and blue sky at back (tough to do this week), wide angle camera - show the whole kitchen- not just half, the inside photos are also blury, and get a photo of the back yard.
3. Redo the text - i find point form to be best
4. The price - drop by $20
5. It seems the agent may only show the property via an open house (not showing any other time) not everyone can go there at that time, to confirm this call the agent posing as a tenant and ask to see the property - see what type of service you recieve as a tenant

 

[triton07]

That what i though as soon as i saw it as well.


I can see a number of problems:

1. The heading - as a previous poster has said " Pets Allowed" (it does not mention this at all in the ad)
2. The photos - you could get a better photo of the front by taking it when the sun is shining on it and blue sky at back (tough to do this week), wide angle camera - show the whole kitchen- not just half, the inside photos are also blury, and get a photo of the back yard.
3. Redo the text - i find point form to be best
4. The price - drop by $20
5. It seems the agent may only show the property via an open house (not showing any other time) not everyone can go there at that time, to confirm this call the agent posing as a tenant and ask to see the property - see what type of service you recieve as a tenant

Gee, I didn't think tenants would be that picky. Don't you think that most tenants make a decision after an inspection on the property rather then looking at headings or images? I understand that the advertising is important but I still would select a property after I've seen it with my own eyes, advertising can be all false & not real, but look good.

I know that the image of the front of the house isn't any good, my fault that picture isn't current, not even taken after the renovations. 2moro I will take some no pics and hope there is a blue sky.

Will also talk to agent and tell them to make some changes to heading & add some new text.

Price drop of $20, hmmm not really keen on this amount maybe another $10 can do.

Inspection is on Saturdays but also available any day with appointments. That's what we agreed with agent, but might ring up and act as an interested tenant to see what service I get.

Thanks to all for your reply's


Cheers

 

[savoys]

Get rid of that headline for starters!!!
"Don't judge a book by it's cover" screams out that there'e something wrong with it. Never advertise the negative. Emphasis on the positive. Gee, who thought that headsline was a good idea?
If it's in a flightpath, you don't say "You can't hear yourself think above the noise", you say "close to transport" or something like that.

yes.. also the inspection times should be a bit more "positive" about the inspection time, and not subject to change - and they have to ring up the day before... i would be asking why would the PM need to change it.