Sydney rental market goes weak



From: Jing Lm

Hi everyone,

I have not been the forum for a while. We have a bit of problem to rent our 1stIP out at the moment. It already in the market for 6 weeks plus tenant's 4 weeks notice. The agent still has not found tenant for us. We also advertised on the SMH by ourselves for last couple of weeks, there were a lot enquiries, but not a lot serious applicants. Too much choices on the market.

We felt that the rent market actually is getting worse in recent 3 weeks. The more and more units/houses come to rent market. Now Government double grants to first home buyer, it could cause rental market suffering for a while.

When we bought it last year, the rent market was very good. A lot of renters were looking for rentals in this area.

Gee Gee, I read quite bit of your views. I like to get more advises from you about managing IP by yourselves and how to find a long term tenant and keep them there.

Any views from others are also very appreciated.

Does anybody think that we should get compensation from agent for their incapability? Is there any time limit for agent to find tenant for landlord? Even they find tenant this week for us, they will take first week rent. We will be 7 weeks no rent.

Every time we tried to talk with them, you can feel that they had tired voice and felt bothered. I really want to fire them.

Anybody can give a recommendation for agent in Hornsby area? I also consider to manage by ourselves.

Very happy to back here again, I feel like to be home.
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Reply: 1
From: Rolf Latham

Hi Jing

If you feel that the agents are no good, move on and find someone that will look after you.

If you give us an idea of the suburb I am sure some experienced soul on this forum will be able to refer a good agent.


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