Muswellbrook

[molly1a]

Hi all
We have had an investment for 4 years at Muswellbrook we were encouraged at the time of purchase to furnish which we did. Anyway our tenants are moving out the vacancy rates are 10% and we have been told by PM that it could take 2 weeks or 3 months to rent.
We have decided to do a mini Reno while it is vacant our rent has gone from 700 per week to possibly 280 or less unfurnished. I am wondering if anybody has a good PM they would recommend for this area
The house is 2 storey that has a separate granny flat on the bottom floor
not sure whether we should consider separating this completely we would have to make a new entrance any thoughts on this?
Also found out council has no land to develop but there is a developer that
has released stage 16 out of a 32 stage development that's a lot of land.
Circumstances has definitely changed in the 4 years we are happy to sit it out
but I am also wondering if the rent goes so low it could take quite a while to
get it up to decent rent again. Has anybody else gone through this.
Thanks

 

[Scott No Mates]

There has been a lot of land released in Muswellbrook in the last few years - alot of it on the left side of the highway coming in from Singleton.

Have a chat to your agent whether it would be easier to lease out the two units separately or to keep as one.

My preferred agency in MB is John Flood, then Edward Higgins FN. Least favourite was LJH (but I was dealing with their commercial PMs).

 

[daniel cunningh]

Edward Higgins have always done a good job for me. Got a tennant straight away and always keep me informed of what's going on

 

[TMNT]

Hi all
We have had an investment for 4 years at Muswellbrook we were encouraged at the time of purchase to furnish which we did. Anyway our tenants are moving out the vacancy rates are 10% and we have been told by PM that it could take 2 weeks or 3 months to rent.
We have decided to do a mini Reno while it is vacant our rent has gone from 700 per week to possibly 280 or less unfurnished. I am wondering if anybody has a good PM they would recommend for this area
The house is 2 storey that has a separate granny flat on the bottom floor
not sure whether we should consider separating this completely we would have to make a new entrance any thoughts on this?
Also found out council has no land to develop but there is a developer that
has released stage 16 out of a 32 stage development that's a lot of land.
Circumstances has definitely changed in the 4 years we are happy to sit it out
but I am also wondering if the rent goes so low it could take quite a while to
get it up to decent rent again. Has anybody else gone through this.
Thanks

What???

700 to 280!!!!