Have dropped rent by $35... ouch!
- Thread starter wylie
- Start date
It's been 3 weeks now, I'm asking $300 pw.
I just dropped it to $290 pw.
2 years ago I was getting $340 pw.
If I don't get anyone in by the end of the week I'll do what I did last time and offer 1 weeks free rent. It worked a treat last time... Got someone in quick smart!
Good news is the mortgage on it is only around $750-800 per month approx $200 pw
I just dropped another $20 on the advice of an agent who has agreed to take me on as a casual list. She says she has higher end properties having dropped $120 per week and others like mine, mid-range rentals renting for $40 and more less than two years ago.
She said finding tenants is not easy right now. I wonder if that is to do with rates being low enough for renters to buy?
She said finding tenants is not easy right now. I wonder if that is to do with rates being low enough for renters to buy?
Nah it is all those greedy landlords right.....
There might be something in this. More investors recently, creating more rental properties?
in Mandurah I was getting 370 last year, had to drop it to 300 to get rid of it. came up for renewal so I sacked the PM, advertised it myself for 390 and let it this morning to a really nice asset backed young couple (they want to lease their own home to reduce their tax). So I am up $90... happy with that.
you mean $90 + agents fees...
Or $370 + agents fees + $20...
Lol. Always the realist. That's like the CG curve on my Cairns house. Last three years, winning! Five Years to Zero.
I had something similar...
Kogarah Sydney 2219
Aiming for $560. Signed lease for $515.
Bad luck was an entire brand new complex went for lease same day as ours. Mine is only 6 months old but the others were brand new... Not sure what rent was obtained in the brand new units but I know mine was dropped quite a bit
Kogarah Sydney 2219
Aiming for $560. Signed lease for $515.
Bad luck was an entire brand new complex went for lease same day as ours. Mine is only 6 months old but the others were brand new... Not sure what rent was obtained in the brand new units but I know mine was dropped quite a bit
At least it's not as bad as some mining towns in QLD, where the can't even rent the properties..
http://www.realestate.com.au/property-house-qld-dysart-119356703
http://www.realestate.com.au/property-house-qld-dysart-119356703
From $2500 to $250??????? Now, that's a drop
$55,000 for a two bedroom....wow
According to wiki
2011, Dysart had a median rent of $1,200 a week for a house, making it the most expensive in Queensland.[3] In 2012, the median house price in the town was $475,000.[4] The closure of the Norwich Park Mine was expected to bring property prices down.[5] In 2015, rental price for a three-bedroom home in Dysart starts at $150 a week.
Ouchy!!!! 1200 to 150
I guess spruikers for involved
With a population of 3000. That's insane
2011, Dysart had a median rent of $1,200 a week for a house, making it the most expensive in Queensland.[3] In 2012, the median house price in the town was $475,000.[4] The closure of the Norwich Park Mine was expected to bring property prices down.[5] In 2015, rental price for a three-bedroom home in Dysart starts at $150 a week.
Ouchy!!!! 1200 to 150
I guess spruikers for involved
With a population of 3000. That's insane
$130 a week now, and even then there is a whiff of optimism at that price.
yes, 2 weeks letting fee + GST would be $858 which equates to $16.50pw. I think the ongoing management fees average about 15% so it's changed from a net of $238.50 under management to $390 private
That property in Dysart reportedly last sold for $4,250 in 2002, so not like the vendor is making a loss
Went for a drive past that property last week,still looks rentable but the town seems a bit low numbers on renters, I never did a title search so thanks for the numbers,,,or as Bob-Marley once said,,
Some feel the rain , Others just get wet..
