Struggling to find tenants in Redcliffe

I'll just pop by at the allotted time to see if I want to rent your property.

Oh wait there's a problem, your property is not easily available to see.

No opens = no tenants.

 

I have a couple of more ideas.

Firstly there is no real agency advertising this property. It looks very suspicious - like a link to a company that advertises online but then the owner takes over self management. This would probably turn off some applicants but also attract tenants who could potentially manipulate a private landlord to their advantage.

I dont think being 900 mtrs to the beach is attractive. That distance says to me that the house could be in any residential suburb rather than a "beachy" location, so again wont be particularly attractive if there are other places available closer to the beaches.

If you are targeting hospital staff, they will potentially want to be able to sleep during the day so aIr con will be a must, even if only in the main bedroom.

There is a photo of the back yard showing what appears to be 2 bent fence posts. The size of the yard in the photos also looks suspicious. Plenty of potential renters ignore places with photos that appear distorted

 

Agree
The house is obviously the same design as every other house that it looks like.

 

Being $400 is a good start because it comes up in the $350-$400 search range, but that psychological barrier is definitely also a real thing. I think dropping to $390wk would be prudent.

Should be fine to leave that balustrade for now, it's not a deal breaker by any means.
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@Ed Barton, you know you can multi-quote in one post right?

Also, I'm not sure about Redcliffe, but certainly prospective applicants in other regional areas down my way are not at all interested in listed Open Homes. You could list a hundred opens in Logan and Ipswich and be lucky to see a single person who hadn't enquired and booked in advance. Brisbane is a different story- no listed opens, no attendees. @Angel have you got any idea what it's like up your way?

I tend to agree that two air-conditioners isn't strictly necessary, but having at least one makes a property MUCH more attractive. Air-conditioners are a polarizing feature, many people will simply not consider a property without one.

 

$400 pw is dirt cheap.

I don't know why you don't have a tenant setting fire to the furniture for some warmth in the blizzard that Brisbane is currently experiencing??

I have heard about it, but I will stick to internet 1.00.

That's interesting. Perhaps the distance, real, or perceived has something to do with ofi mentality.

In my area (PPOR) I think rentals are normally by appointment. I don't think you could rent a house here for less than ~800pw. Lots of flats for rent.

 

Probably need to consider the target market, say family with a pet.

People also like their creature comforts. At least should have a split system air con in the master bedroom and one for lounge/living room. It does get hot and cold in Queensland. I would never have a Qld rental property without A/C.

Also the yard is kind of big and people will have to mow, they don’t like to do this these days, maybe getting some regular mowing may help.

Being pet friendly is a real plus, families have pets. A lot of landlords don’t want pets, so allowing pets will attract a lot of prospective tenants.

Also agree dropping the rent just under the $400 barrier.

 

No idea, Tom.

 

I like to do the following with my rental IPs in QLD in general:
- Always advertise on realestate.com.au and I also like priority listing (so it doesn't just go to last page very quickly)
- Always be around $10 under the market rental (hence like others suggested I would advertise at $395 or even $390 as $400 is a mental barrier for some. Like some shop prices are $399.95 not $400!). I prefer lower rent and shorter vacancies so don't mind being slightly cheaper than the rest. Also having many IPs helps the cashflow.
- Always point out good stand out features (never point out all the information especially like water charges apply, why provide that if I look at other ads they may do that but they don't point it out in the advertising as this is a negative!).
- Have open inspections
- Have weekly feedback from my agent
In addition I provide fly screens, recently also added air conditioners to some of my houses (since such hot weather this last summer, and one tenant even said they would never move out if they had one - heard it from the horses mouth upon inspection).
Does your place have a dishwasher and built-in robes? Cannot see those yet I think most tenants would prefer other IPs that contained these if similar in price?
After feedback I drop the price then I actually offer a free gift (have been 1 week free rent, gift vouchers such as Woolworths, Coles, QPAC etc...).
Other marketing tricks I have provided:
Have also included free basket wrapped up on the kitchen bench very visible for tenants with a message "FREE GIFT IF YOU RENT ME!" at open inspections (usually contained household products and pamphlets and offers in the area). Sometimes the tenants ask what's in there and the agent would say I don't know it is from the landlord but you can find out if your are a successful tenant and you rent the place.
Other marketing tricks I use is 'Q' cards, like for sale of property. I would make photos of each room and highlight in bullet form the positive features (usually hang them on power points just below upon inspections). The idea is there to stand out from other IPs inspected on the day, which property would stay in your mind if you had those cards pointing out positive or additional features!
For example, has a dishwasher, stainless steel appliances, extra storage, only one common wall, large whole wall built-ins, art deco picture rails, lead windows, full wall large mirrors in the bathroom, security screens, air conditioning....you need to pint out what is better at your place what makes it stand out from the rest?
You need to know who your target tenant is, is it professional mums with family they like security, good lights in bathrooms (to apply make-up), proximity to schools, etc.... if group households perhaps paying for lawn mowing at your cost, etc....
Have been renting in QLD since year 2000, and needed some creative ideas, and remember the first two weeks are most crucial, so you now need to be more proactive with your approach. Only once pulled out the ad for a while but was doing a renovation and then listed again.
Also, instructed some agents to have applications at open houses to entice to fill in on the spot to get the free gift rather than to look at more other properties. Doesn't always work but sometimes it does!
I live in NSW hence it is hard as I need to manage my managers in QLD how to be proactive and what to do...in NSW I can be more creative in marketing as I live here!
Have also dropped pamphlets in cafes or in proximity businesses...etc.

So hopefully this should help...best of luck and keep us posted how you go and what you did that worked.

 

Gosh, you must be very confused with so many different opinion @Andrew Best. That's what I like about PM... it's versatile and creative
My views:

• Improvements such as fly screens, split system are just fancy stuff. These can be reflected in the rent amount. The more "facilities" you provide, the higher rent you get. Just have to be careful the old saying "worst house on the best street", not the opposite!
• Domain is certainly NOT for Brisbane. Cant fathom why your PM is against them. Fees??
• FloorPlan is very important when selling, not so in renting.
• Pictures with kids and pets.
• OPEN OPEN OPEN!

 

Thanks for the comprehensive feedback!

Going to summarise what I've done so far and some more thoughts in a separate post.

 

So,

I had a frank conversation with the agent, who was also fairly frank in saying she only advertises on Domain to keep her fees down and she wouldn't be able to afford her current rate if she were to pay for a realestate.com.au membership. I don't necessarily think this is a good thing - I've easily paid more in interest now than I would have in higher fees, but at the moment it is what it is.

She doubled down on her opinion that Domain is good for visibility due to the marketing Domain have been doing recently, but I don't think the opinion is backed by any hard data.

I've updated the ad with a lot of the suggested copy and images:
7 Sturgeon Street, Redcliffe QLD 4020 - House For Rent - $400 | Domain
7 Sturgeon Street Redcliffe Qld 4020 - House for Rent #423827562 - realestate.com.au

I asked to have the 'water charges apply' removed, but my agent has stated she needs to be 'up front and honest' in the ad and needs to state this - is this true, is she legally bound to have it in the ad in QLD?

I've also arranged for two built in robes to be installed in the master and second bedrooms, and a large split system in the lounge which should do a decent job of cooling most of the house. These have been added to the ad, but aren't in pics yet pending install.

Struggling a little with fly screens as the windows are not the sort that would usually have fly screens attached, I've had one installer say they couldn't attach them so far. Hoping I can find one who can be a bit more creative.

Last thing to tweak is the price - if I don't get anything by the end of this week it will be dropping to 390. Then it gets one more week, and if it isn't rented at that point, I'll need to get another agent, because I'll have exhausted the amount of effort I can put into it. I may also need to get a little 'creative' as suggested by @MWI if I don't have anyone in by then.

What is the longest people here have experienced getting tenants in previously? I'm just curious how 'unique' my situation is here.

 

I would go below 390. 370 is where I would start in the current market and if that does not get any takers, 320. It is a lovely spot but your target market is retirees with limited income given the area. I'm not convinced changing agent will make any difference.

 

Median rent for 3 bedders is 375, and most of the stock at that price is pretty average. I'm still hopeful I can bat slightly above that given the improvements to this property - that being said I've got to be realistic about the amount of interest I've seen at the moment.

Any science behind dropping it $50 a week? Seems like a very large move to drop it ~15%

Agree RE: changing agent, it is a last resort move, however ultimately the agent is the key part in sealing an outcome - I'm not the one talking to prospective tenants etc.

 

Having read all of this, if I were in this situation, I'd be ditching the agent quick smart, and dropping the rent to $385. Get with an agent that lists on RE com.

She may be keeping her fees down, but she's also chopping your legs off at the knees.
What fees are you paying her? You're likely out of pocket more than fees from another agent.
I pay 7.7% and 8.8% inc gst for my places nearby.

I have never put 'water charges apply' on the advert. It's all included in the contract before they sign, and explained to them by the agent, in person. It's not something someone would worry too much about. My tenants don't use much water at all..

 

Why not a local agency? There at least 17 agencies in Suttons St/Redcliffe Pde area alone, let alone the more independent ones on random street corners and neighbouring suburbs. You are spoiled for choice in Redcliffe for property agents - they are literally everywhere. Surely a local one in this instance that brings in local enquiries, you would be able to find one that matches what you are after.

 

I had a quick look at the figures for Redcliffe to base that on. The best agent in the world will not find you a tenant if you are high priced and tenants income is low/ flat. By all means, find an agent you trust but do not underestimate your price point. The worst agent can sell if the price is right.

 

Realestate.com flexi subscription only costs $285 per month. If your agent can't afford those sorts of overheads then I'm concerned about how they're doing business.

 

I don't understand the stubbornness for high rent. Move down towards the median quick smart and get it rented. Can be good to be so low you have multiple options so you get a better choice of tenant. You can always up the rent if/when the market rebounds, otherwise be glad it is tenanted at all.

 

Sums it up perfectly.

You need a new PM. This one simply does not understand the market if she believes Domain is the way to go in Qld.

This will be an ongoing problem and will cost you longer delays each time a tenant leaves.
Marg