How to find out more about the rental market in specific suburbs

Discussion in 'Property Information Resources & Tools' started by Kramerica12, 21st Mar, 2020.

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  1. Kramerica12

    Kramerica12 Well-Known Member

    Joined:
    13th Oct, 2019
    Posts:
    52
    Location:
    sydney
    Hi,

    I’m thinking about bidding on a 2 storey, 4 bedroom house in a certain suburb. This house would be an investment for around 7-10 years before likely moving in later on as a long term house.

    I have looked at current and past rental listings on similar houses in the area to get a gauge of price. But I want to find out more information on what the demand is like for this type of property in this area. I can’t just ask the real estate agent selling the house as they always say you’ll have no problem renting it. So how can I go about getting good quality, independent information about this.
     
    Kramerica12, 21st Mar, 2020
    #1
  2. Trainee

    Trainee Well-Known Member

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    Location:
    Australia
    Research it like you would a renter.
     
    Trainee, 22nd Mar, 2020
    #2
    The Y-man likes this.
  3. The Y-man

    The Y-man Moderator Staff Member

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    Location:
    Melbourne
    Call rental agencies in the area, and as per @Trainee put yourself in a renter's shoe.

    Monitor the rental ads on RE com and see how long they stay vacant for.


    The Y-man
     
    The Y-man, 22nd Mar, 2020
    #3
  4. Trainee

    Trainee Well-Known Member

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    Australia
    Email and call a few agents in the area, saying this is what I'm looking for. Check out ads. How many ads are there? How long are they staying up for? Are they cutting rent? How quickly are rental agents calling you back? Track it for a couple of weeks. Go to opens for rent.

    Its no different from when you are looking to buy.
     
    Trainee, 22nd Mar, 2020
    #4
  5. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

    Joined:
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    Location:
    Sydney
    Definitely chat to a few other property management businesses, although keep in mind that currently the market is not typical and a lot of demand has dropped away.
     
    Mel Morgan, 29th Mar, 2020
    #5