Struggling to find tenants in Redcliffe

Hi all,

I've recently bought and lightly renovated a property in Redcliffe 7 Sturgeon Street, Redcliffe QLD 4020 - House For Rent - $400 | Domain

Given the low-ish vacancy rate in Redcliffe, I would have thought it would rent reasonably quickly - but it has sat on the market for ~6 weeks now, and interest still isn't flooding in.

Some details: our agent started with it just on Domain, but a week ago also listed it on RE.com.au upon my request. The first open was conducted the weekend just passed, and I'm still waiting to hear how that went.

There are a couple of bits of feedback that I've had on the property - the main one being getting wardrobes in the bedrooms, and another one being getting some flyscreens.

My question is: should I be looking to address feedback of people walking out the door, or should I be tuning the price further to 'meet the market'? I think it is priced reasonably in comparison to other available properties, but I'm happy to hear opinions on that too. I'm not against spending some more money, but only want to do so if it will get someone signed up.

Another question I have is - is there anything else I should be doing, or I should be asking my agent to do, in regards to marketing the property?

Thanks all,

Andrew.

 

A few thoughts...
.

• The ad says "carport accommodation" but doesn't mention for how many cars.
• I don't love the window coverings in the loungeroom.
• The ad mentions there are ceiling fans but it doesn't mention about any additional heating/cooling.
• The ad still says available from 27th April which makes it obvious to everyone how long it has been seeking a tenant. Ask the agent to change this to "Available now".
• 6 weeks seems to be a long time to have been hunting for a tenant. Is it possible the problem is the agent?

Calling @Andrew Hancock for thoughts...

 

I'd definitely consider installing flyscreens, particularly if you don't have any air conditioning so people can get breezes into the house. That said, you can't go wrong with installing split systems - its standard in the master bedroom and lounge these days.

Have you considered allowing pets? The large backyard seems perfect for dogs, and this would open up the available rental market considerably.

Finally, you definitely need to get a floorplan included on the listing (you might have one, I just didn't see one). This helps your audience see the overall layout of the house, which isn't obvious just with the photos.

FYI - your agent really should know that the vast majority of QLD tenants go through realestate.com.au, not Domain. Domain is good, but not nearly as good - 80% of our target market comes from realestate.com.au.

 

Firstly, in Qld, realestate.com.au is the favourite. Only 5% of our enquiries come from Domain.

Just found your Ad there, 7 Sturgeon Street Redcliffe Qld 4020 - House for Rent #423827562 - realestate.com.au, and looks like it has 449 clicks. Cant tell how long it had been posted there. Did your PM give you any indication of how many enquiries they receive? And how many inspections so far?

I would suggest holding Opens especially weekends, even twice a day.

Only after you know the numbers then you can determine whether you need to do more, or whether to lower the rent under the "as is" condition. Median rent is $375 but that's very subjective.

I thought being pet-friendly would make it very attractive. If you target is family and pets, perhaps add a photo with kids, playground and pets.

Good luck!

 

Drop the asking rent?
Get a new PM?

 

6 weeks vacant means it is too expensive relative to comparable properties, particularly if the vacancy rate is low.
Check out other comparable properties in the area.
The lack of internal stairs will be a drawback.
Drop the rent by at least $20 a week.
If not rented in two weeks, drop the rent again.
Marg

 

The property looks great compared to other stock but the lack split systems and fly screens is what jumps out as show stoppers. I think maybe a frank discussion with the agent on features or rent is needed.

Maybe get the opinion of a second agent as well - very easy to do now.

 

What sort of Real Estate agent doesn't advertise on Realestate.com!? Oh my god! Say goodbye to 90% of your enquiry........!? I would be changing agents on that fact alone- what planet are they on to think that was not necessary!!!

Other notes;
- No Air-Conditioning will be turning off a lot of enquiry.
- Flyscreens (and security screens to reachable windows) are a big bonus.
- Front balustrade really dates the facade.
- Rent seems high for a 3-Bed, though the downstairs area is a big drawcard.
- Pet friendly is the way to go.

Let me be very clear though- these items are all very minor compared to the fact that it was only just advertised on Realestate.com, that will -hands down- be the reason that you've been waiting six weeks.

 

Not sure if its normal for places in that area not to have flyscreens.
But for me it would be a very big turnoff and would walk straight out the door

 

Thanks for the thoughts Jac!

When we renovated air con was on the list, but we took it off as the highset house with fans in each room never really got hot, and had great sea breezes come through. That and it would have needed a decent sized (8kw) unit, which at the time I didn't think the cost would balance against the potential increase in rent.

I'll make a note to ask the agent to update the ad with those suggestions.

At the moment I'm really trying to quantify what the problem is. I don't want to point fingers yet, but the lack of outcome so far has led me to do some research and to hear some opinions, hence this post.

I know the agent is active, taking all comers for a tour of the property at any time requested.

I feel potentially the issue is could be getting people interested / attending, and obviously when they are there getting them submitting applications.

 

Pets are allowed on application - we will accept outside pets.

I've thought about getting some of those magnetic flyscreens, or potentially I could get some fitted to the outside of the wooden window frames. I'll look to prioritise that.

Thanks for the tip on the floor plan - I don't have one, but it should be easy to create one.

The realestate.com.au thing has worried me - I had to ask my agent to put it up on there, as originally she insisted going via rent.com.au, domain.com.au and some facebook groups was enough.

 

I'll ask specifically about the ad stats tomorrow. Do you know a good ratio of views to enquiries that would suggest the ad itself is 'healthy'?

I'll def ad a pic of a family + pets at the redcliffe beach to the list of things to improve on the ad

 

Thanks for the tips Tom, much appreciated.

I was worried about the not advertising on RE.com. I may need to renegotiate terms with the agent to remove the initial letting fee if that has cost me weeks of interest.

I've heard fly screens here twice now, so they are definitely on the improvement list.

Good note on the balustrade - we renovated interior only. I might look into how much a new one would cost, but at this point looking to do the minimum to secure a tenant, and then to improve more slowly over time.

And thanks for the thought on the rent $ - I am wondering if the '4' at the front is turning people off, and considering dropping slightly to 390 just to break some mental barriers that may exist.

 

Thanks, it seems that the popular opinion is that the aircon is more important than I had anticipated!

 

Going into winter now and with that in mind I wouldn't stress about putting in aircon now. I still found the Redcliffe area had a lot of extremely hot days in Summer though.

See how you go with the realestate advertising, and maybe $390 a week is preferable - better for the tenants to see a 3 than a 4 at the front of the price

 

The agent can send you a realestate.com.au link that shows all the stats. How many clicks, how many views, how many added to fav, inquiries, booked inspections, clicks to 1form ect. I get one weekly and is great.

Just an Idea the “water charges apply” might appear confronting to potential tenants and potentially make them view other properties first that dont mention (even if they do charge it)

 

Domain is useless in QLD. It;s all about realestate.com.au

 

No it's not.

 

Rubbish.