Are 1 bed Units in Demand for rent ?

Hi guys,

Would there be any demand for rent of 1 bed units or is it better to get 2 bed units ?

Thank you

 

You expand your tenant base by buying a 2 bedder - IMHO would not buy the 1 bedder...

 

In my experience, the rare one bedders in our district ask such high rents that the tenants just go the extra $20-$30 a week for a 2 bed. (North Lakes)

 

It depends on your budget.
There are plenty of people who only need 1 bedders but chose to live in a 2 bedder and use one bedroom as a study etc.
It all depends on budget, the number of 1 or 2 bedders in the suburb and building complex.

 

There is usually always some demand for most types of dwellings out there.

i prefer to look at strength of demand.

So when it comes to 1 vs 2 bed units: what is generally more wanted in the area? is the price gap difference significant or small? Will buyers/renters make use of that second bedroom therefore increasing rentability and saleability? Can the second room be used to add value,?

Generally I would always pick a 2 bedder over a one bedder unless it's in a very specific area with clear and strong advantages of only getting the 1 bedder over 2.

 

In a tight market one bedders can hold their own , but if the market gets oversupplied and you suddenly find yourself competing with two bedroom apartments for tenants you might struggle .
Even as a youngster, when I was renting, I always had a two bedroom apartment.
Great for when family or friends come to visit , especially if they live a fair distance away, or just use it as a storage room.
Trying to sell can sometimes be a nightmare , banks can be quite restrictive, especially for owner occupiers, and generally they dont want one bedroom apartments.So you are limited to selling to investors. Strata fees can really hurt.

 

Never had my one beddas empty. Rent return is a little less than two beddas though. No probs selling them either but I did sell in the boom. Might be different now.