How To Know If a Property Will Be Easily Rented

Published: Dec. 4, 2020, 12:28 a.m.

b"https://www.youtube.com/watch?v=0Ntr0rcFfHs\\n\\n\\n\\n\\n\\n\\n\\n\\nOne of the biggest fears people have when investing in property is whether or not their property will be rented or lie vacant. How do you make sure your property gets rented.\\n\\n\\n\\nRental Results\\n\\n\\n\\nRented Book\\n\\n\\n\\n0:00 - Introduction1:26 - How to make sure a property is able to be rented before you buy it3:57 - Understanding the type of tenant6:09 - Marketing your property properly7:25 - Have you ever had an unrentable property?9:08 - How to rent your property faster10:53 - How long does it take to re-rent a property13:00 - Should you get a rental appraisal before renting a property?\\n\\n\\n\\nVacancy Rate Checker\\n\\n\\n\\nTranscription\\n\\n\\n\\nRyan 0:00One of the biggest fears people have when looking at investing in property is how do I know if my property is going to get rented? Or if you already own a property? How do I make sure that the property doesn't stay vacant? So today, I have with me, Lauren Robertson, who is a rental manager from rental results. And we're going to talk through this and she's going to give us some insight. So you can work out whether a property is likely to be rented or if you got a property, how to get it rented. So hey, Lauren, thanks for coming on today. Yeah, thanks,\\n\\n\\n\\nLauren 0:30Ryan. Thanks for having me.\\n\\n\\n\\nRyan 0:31No way. So do you want to just give us a quick rundown of I guess, who you are and what you guys do? And then we'll jump into you know, how we can assess this?\\n\\n\\n\\nLauren 0:40Yeah. Great. So yeah, I own rental results. So we're a property management specialist company. We've been around now for over seven years, and we manage over 600 properties within the inner city suburb of Brisbane. So 15, Kay's from the CBD, also been doing property management for 18 years now. And we've won quite a few national awards. So yeah, it's a long time to be in property management. But love it still love the the industry.\\n\\n\\n\\nRyan 1:07Yeah, so let's just say you've rented a lot of properties, you've seen a lot of properties in your time, you know a lot about this space, and what makes a property likely to get rented or what makes the property more likely to stay vacant? So let's start with the investors looking to purchase a property and then we'll go on to people who already own it. But let's say people are looking at a property. They're like, okay, I might want to invest in this property, but they hadn't they don't know about the market or the area, how do they know that property is likely to be able to be rented or not?\\n\\n\\n\\nLauren 1:40Yes, I have also written a book on this, which is rented. And it's got a website rented.com. Today, you but basically, it comes back to understanding the market. So knowing what the vacancy rates in that particular area are understanding your property. So knowing the type of tenant that that property is likely to attract and whether there's a market for that. And then also making sure the property is priced right and presenting well. So there's a number of different factors.\\n\\n\\n\\nRyan 2:10Yeah, so vacancy rates, that's quite easy to find sq m, have a tool that outline vacancy rates, and people go to onproperty. com. au forward slash vacancy, it'll redirect there, you can put in your suburb or postcode. It'll tell you what the vacancy rates are, what sort of vacancy rates? Will you assume a good versus bad? What should be avoided?\\n\\n\\n\\nLauren 2:31Yes, I think something to bear in mind is vacancy rates, anything typically under 3% is good. So over 3% is deemed an oversupply in that market. Other things to consider is whether you're going to furnish the property or unfurnished so when you're furnishing it's, it's there's benefits, because obviously depreciation and there is definitely benefits around furnishing a property. But you do need to consider that only a smaller percentage of the market is looking for furnished as opposed to unfurnished. And also, it's it typically is only works in certain areas that you're going to have a high dem..."