Does anyone know what the sunshine coast rental market is doing? 2 months no tenant

Discussion in 'Property Management' started by neaka, 26th May, 2010.

  1. neaka

    neaka Member

    Joined:
    11th Mar, 2008
    Messages:
    70
    Location:
    VIC
    Hi There,

    We recently did a quick reno on our house on the Sunshine Coast Hinterland (near Mapleton) under the advice of our property manager that, with a new kitchen/paint job/floor polish we could get an extra $100 a week rent.

    We completed the reno early april and still have no interest. We originally asked $350 being hopeful but quickly dropped it to $340 and we are now at $320 which is only an extra $40 a week on top of what we were getting pre reno!

    The agent says the market up there is completely flat, we have had investment properties up there for the past 10 years and have never experienced such a gap in tenants and its starting to hurt financially.

    She says there are afew issues, like the driveway is abit messy and it is a 3 acres property (even though we pay a gardener) people seem wary of having to maintain it.

    Worried! Wondering if we should just cut our losses and sell? Anyone Know what the deal is on the range at the moment?

    Thanks
     
  2. marg4000

    marg4000 Member

    Joined:
    27th Dec, 2006
    Messages:
    3,906
    Location:
    Brisbane
    Go to www.realestate.com and check out the other properties available for rent in the area. These are your competition, and you will be able to see how many are available and how yours compares.
    Marg