Making sure your apartment remains hot property in the cooler months.
Commentary by Department Head – Callum Thompson
Traditionally the autumn and winter months are the quieter seasons for leasing. As chill sets into the air, many Melbournians enter hibernation mode and moving home can be the last thing on their minds.
Across the city, our team are seeing variations in the strength of the rental market. Suburbs in the inner North such as Collingwood, Fitzroy and Fitzroy North are still drawing large numbers through the door with potential tenants competing to secure a new property. Studio and one bedroom apartments in the CBD are also performing well.
In contrast, the Eastern suburbs are seeing fewer people at inspections and rents sitting stagnant in most cases. Tenants looking in the quieter areas are more particular with their “must haves”, often overlooking properties with inadequate heating and cooling, or that are showing signs of age with tired paintwork and floor coverings.
With the end of financial year approaching, it’s the perfect time to consider tax deductible improvements to your investment property, to ensure it remains appealing to prospective tenants.
Our Property Managers can provide advice on enhancements most beneficial to your property, as well as arrange quotes through our network of reliable tradespeople.
Callum Thompson – Head of Property Management