What are you doing to make your property more competitive?

Domain has of late been very tenant biased offering tips on how to get the best deal from your agent/landlord eg: Linky Lanky etc.

The sales environment has changed dramatically, now we're hearing that the rental landscape is also changing.

Plenty of new developments have been completed, settled & hit the rental market.

What improvements are you undertaking to either maintain or improve your returns?

Whether it is painting, overdue replacement of fixtures/fittings or undertaking some improvements.

Are you actually considering the impact that these competing products will have on your IPs? Even though new developments may not be the same as your IP in the next suburb eg unit vs house, will renters go for a new unit rather than a 10 year old house? Are renters still willing to pay a premium for a different product?

 

I repainted one of my apartments between tenancies, and installed those swanky gooseneck taps in the kitchen. Fixed minor issues like lights being out etc- small details that tenants notice as they rush between open homes on Saturdays.

A good stable owner-agent-tenant relationship is probably the best unique selling point. Why change things if the tenant has peace of mind that repairs will be handled quickly, rent is set at market.

 

Made my last house "pet friendly" - rented within the week for more than we were expecting