4 Emerging Trends in Property Management & Leasing
Announcement posted by 360PR 12 Oct 2017
With house prices soaring in capital cities, the leasing market is hot with trends in 2017. More people are choosing to rent over buying. Whether you’re a landlord, a renter or looking to become one, there are certain aspects of the market changing rapidly, particularly when looking at property management and leasing.
Justin Ferguson, Founder and Principal of Ferguson Property Agents says, “The leasing market continues to grow, with about a third of Australians opting to rent over buying. With such a large portion of the population renting, significant trends have emerged for both renters and leasers.”
Justin explains four emerging trends in property management and leasing in 2017:
Justin Ferguson, Founder and Principal of Ferguson Property Agents says, “The leasing market continues to grow, with about a third of Australians opting to rent over buying. With such a large portion of the population renting, significant trends have emerged for both renters and leasers.”
Justin explains four emerging trends in property management and leasing in 2017:
- Houses over Apartments: Currently, there is an oversupply of apartments, with buildings constantly being turned into blocks of apartments, making houses all the more attractive. Houses and semis give you the added privacy that more and more people are opting for over apartments. You usually have more flexibility with a house, often allowing pets and the freedom to make it your own. For leasers, the desirability of a house often means you can charge more, and take your pick of potential tenants.
- Selling to Rent: Homeownership doesn’t have to be a permanent position that you’re in. More homeowners are now interested in becoming renters; it can save them money they can put towards retirement or an investment property. The rising property prices are attractive to sellers who would like to invest their money elsewhere and live a more flexible lifestyle by renting.
- Hot Tenants are the Future: ‘Hot’ tenants are those within the real estate agents database who have already expressed interest in finding a place to rent and the property will fit their wants and needs. These tenants would have already been approved by the agencies, allowing for a more qualified tenant and quicker move in time. Leasers then won’t have to pay for advertising, making it a cheaper, easier process for both leasers and tenants.
- Longevity with tenants: A larger number of tenants are now looking for longer-term rentals rather than short-term stays, making renting a more permanent lifestyle. This is mutually beneficial for landowners and tenants; guaranteeing monthly rent and providing protection for the renters. For leasers, this means you can calculate your ROI over the period of the lease, which will often have a stable, higher return.