Rental Vacancy Rates

From: Property Investor


How would I check the Rental Vacancy rates in any particular suburb?

Can some of you let me know how you go about it and/or where you obtain the information from?

I find this to be very important and a must for purchasing good IP's.

Your feedback will be greatly appreciated.

Thanks,
Mannie.
 
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Reply: 1
From: Rolly Taddeo


go and ask 3 or 4 real estate agencies in the area
 
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Reply: 2
From: Gidget .


I find another good (although less precise) method is to drive around the relevant area frequently and take note of where the "for lease" signs are and how long they stay up for. That way you also get an idea of what kinds of properties are taking a while to rent out. This is easy if the area you're interested in is near where you live, but I guess not so practical if you live a fair distance away.

Gidget.
 
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Reply: 2.1
From: Waverly Bay


Yes - above suggestions are great. Also good to keep an eye on the macro picture for the particular state u own the IP. There are stats generated from REI of the various states on the rental vacancies based on bond monies deposited.

These stats are usually reported in the marjor newspapers. For example, the Australian Financial Review had an interesting article in their property section on the falling rental vacancies in sydney... (yes u read right...falling vacancies)

These stats are macro picture stuff so obviously may not be determinative of the vacancy situation on a particular suburb.

Cheers

Waverly
 
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Reply: 2.1.1
From: Paul Zagoridis


I favour ringing agents in the area and straight up asking "what have you got in the area to let with 2 bedrooms".

That way they're honest and aren't pitching for frewsh business.

Regards

Paul Zag
Dreamspinner
WealthEsteem coming soon at...
http://wealthesteem.dyndns.org/
 
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