- Tags: Landlords, Palm Beach
Local Rental Market Still Strong - Palm Beach Despite the slight easing of weekly rents we have seen over the past few months, our Vacancy rate was low and the demand for rentals remains very strong.
Looking back to June we had 1071 enquiries processed by the Property Management Department and 123 inspections by 396 potential tenants. Out of that we took 64 applications and rented 12 properties. In October we had 1273 enquiries and we had 50 inspections which were attended by 317 potential tenants who submitted 89 applications of which we took 13 which was all that we had available.
The daily KPI reports for November give every indication that the number of people enquiring will be just a strong as it was in October. Our 1273 enquiries in October were created by a combination of Highlight marketing on realestate.com.au, our email marketing program which matches tenants with specific properties and generates a vacancy list once a week and a lot of hard work.
he result of all this activity was that we averaged -3.4 days vacant for our owners AND averaged only 1.9 days of lost rent based on True Vacancy from the Available Date to lease start date.
Processing an application at the front desk averages about eight hours before it goes to a Property Manager for a decision. Considering that only about one in seven applications were accepted the Property Management team were very busy. They certainly did not accept the first warm body that came through the door.
by David Hamilton Local Rental Market Still Strong - Palm Beach
palmbeachfn.com.au November 2017
First National Palm Beach
18 Sixth Ave Palm Beach, Queensland 4221 Phone: 07 5559 9600