Soaring rents for residential properties and rising costs for landlords are increasing demand for skilled property managers who can boost returns while retaining valued tenants.of less than 1 per cent nationally with people moving from cities to the regions – and then back again – as COVID-19 infection rates peaked and fell, says CoreLogic, which monitors property markets.Rents are expected to increase by another 15 per cent nationwide as vacancy rates plunge to 16-year lows, adds SQM Research.
Staver, an industry veteran of 34 years, says picking a manager with the right mix of commercial savvy and empathy is as important as finding the right tenant. Emily Sim, chief executive of property management for Ray White, the nation’s largest real estate agent, adds: “A good agent has a thorough understanding of tenancy law, which is different in every state and territory.”
Are properties inspected at least every six months? Is there a rent review every 12 months? As an example of current rents, Vaucluse in Sydney’s eastern suburbs is the nation’s most expensive suburb, with a median weekly rental of around $2400, according to CoreLogic. The highest median weekly rental in Melbourne’s bayside Brighton is about $1300.
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