Talk about shortage of rentals !

Interesting about what is happening in Brisbane. There doesn't seem to be the number of desperate tenants as there appears to be in Newcastle and Melbourne.

To any other Brisbane investors, what is your experience - is there a shortage of rentals in this city?
 
Nicko said:
Or what's happening in WA at the moment?
Click to expand...

I have two rentals in perth, one is a newish 3br apartment 2km to the city. This has continued to see both sensational capital and rental growth in the last 12 months ( 20% + ) :D while the other property ( 10y?o villa 5km to the city, although stable, has plataued in the last 6 months ( both rent and capital growth ) ....cant complain though given what it did the 3 years prior ;)
 
Ross said:
I have two rentals in perth, one is a newish 3br apartment 2km to the city. This has continued to see both sensational capital and rental growth in the last 12 months ( 20% + )
Click to expand...

G'day, yeah this is why ive decided to buy an IP first (in inner city Perth) before buying my first home. After I've paid off at least half of the IP mortgage I will buy my first ppor.

Rents and petrol are skyrocketing and along with the redevlopment close to the cbd, will see the potential for good rental returns and capital growth. Will buy in around 6 months or so.

Its all quite exciting.
 
I've noticed quite a few "for lease" signs in my area of Brisbane - Aspley, Zillmere, Geebung. Some of the real estate agents also appear to have more rentals than a few months - maybe we have going into a quieter period.
 
Kim5 said:
G'day, yeah this is why ive decided to buy an IP first (in inner city Perth) before buying my first home. After I've paid off at least half of the IP mortgage I will buy my first ppor.

Rents and petrol are skyrocketing and along with the redevlopment close to the cbd, will see the potential for good rental returns and capital growth. Will buy in around 6 months or so.

Its all quite exciting.
Click to expand...

Why wait to buy your PPOR??? It's just going to get more expensive...
 
Hi,

When we were listing a house for rent a month ago, agents were quoting us $310-320 a week.

After we chose an agent they advertised it for $330, its now rented for $330.

Originally rented for $240 in 1998 (when new) (3br/2ba 2 story townhouse in Quakers Hill).

But demand does appear to be very strong.

Regards
Michael
 
I watch some community web sites and adverts I have never seen before are starting to appear.

People wanting to pay rent to put up tent in garden (access to bathroom required)

Request to rent driveway to park caravan etc

Request to rent garage for entire family! (window would be nice)

These are all for Melbourne. Trailer parks coming soon? People taking in boarders to make loan repayments?

We have been letting a room above our garage for anywhere between $200 and $300per week.
 
GoAnna! said:
We have been letting a room above our garage for anywhere between $200 and $300per week.
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That is a large amount. Do they have a kitchen or bathroom up there, or access to use yours downstairs?

We have a really large garage and are thinking of putting in a kitchen, bathroom, desk area, lounge area and bed, fully furnished. We are near a TAFE in Moorabbin and were thinking of renting to students, but it sounds like we could rent it to anyone.
I was thinking of charging around $220 inc gas & elec but maybe I could go higher.

Bronwyn.
 
bronwynt said:
That is a large amount. Do they have a kitchen or bathroom up there, or access to use yours downstairs?

We have a really large garage and are thinking of putting in a kitchen, bathroom, desk area, lounge area and bed, fully furnished. We are near a TAFE in Moorabbin and were thinking of renting to students, but it sounds like we could rent it to anyone.
I was thinking of charging around $220 inc gas & elec but maybe I could go higher.

Bronwyn.
Click to expand...

It has a bathroom, cable internet and full furnishings. Its is about 50 square metres and has a large balcony and BBQ. Sometimes we have shared our kitchen, sometimes not. We do include the electricity so they have no utility bills. Landline usage at their cost. We are close to train, tram , bus Most of ours have been travellers ranging from 2 weeks to a number of months. It has overall been a fantastic experience (as well as nice pocket money)! We have located tenants via www.gumtree.com.au or www.melbourneexchange.com.au
 
GoAnna! said:
in what way?
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You can't just setup new dwellings on your property, it will be against council regulations.

Then everyone would just dump 5 sheds/bungalows into their yard, and start renting them out.. imagine how the suburb would look? Like a massive trailer park.

I think you mentioned you don't have a kitchen in it, so this may be the loop hole to get you out of trouble.
 
crc_error said:
You can't just setup new dwellings on your property, it will be against council regulations.

Then everyone would just dump 5 sheds/bungalows into their yard, and start renting them out.. imagine how the suburb would look? Like a massive trailer park.

I think you mentioned you don't have a kitchen in it, so this may be the loop hole to get you out of trouble.
Click to expand...

It is built with full council approval if that is what you mean. We are not setting up an unapproved trailer park. Promise! :D
 
Hey did anyone see Insight on SBS last night? They took their cameras to an Open House for rent in Glebe and there must have been at least 20 people going through the place :eek: Crazy!
 
who watched TT tonight? All those greedy landlords increasing rents!!

I didn't realize that when becoming a land lord you become a charity as well!

I mean heck, interest rates have sky rocked, and we are not to pass on the increased costs?? last 8 years have seen little rent increases, so now is catch up time
 
although we've now exchanged contracts on our "elephant" we had taken it off the market and listed it on the pm's website thursday (over easter) for rental at top dollar to test the market - around $30/wk more than we'd thought we'd get.

well, by easter monday they'd had a dozen phone call and four parties that want to look thru.

anyhow - ended up in a purchase bidding war (always after taken off market!) and exchanged today to the bidder with the best conditions.

the insight type open home is not unusual - i gather.
 
crc_error said:
who watched TT tonight? All those greedy landlords increasing rents!!

I didn't realize that when becoming a land lord you become a charity as well!

I mean heck, interest rates have sky rocked, and we are not to pass on the increased costs?? last 8 years have seen little rent increases, so now is catch up time
Click to expand...

I watched it. It's a joke, as always.
 
crc_error said:
who watched TT tonight? All those greedy landlords increasing rents!!

I didn't realize that when becoming a land lord you become a charity as well!

I mean heck, interest rates have sky rocked, and we are not to pass on the increased costs?? last 8 years have seen little rent increases, so now is catch up time
Click to expand...

Tell me about it. You call that current affairs, I call it crap. I think it's kind of a charity because most landlords are still negatively geared.
 
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