With the rental market in Perth continually declining landlords now have to face a vacancy rate of over 5%, the highest in over 20 years.
Combined with a fall in the median rent to $400.00 per week the power is well and truly in the hands of the tenants. However it is important not to get too power hungry and look simply for a bargain property. As a potential tenant it is important to look beyond the price of the property. Here are a few tips of things to look at when searching for a property in the downward market.
- How was your enquiry handled?
It took you two weeks to get a response however it’s okay, they’ll handle maintenance quicker. Will they? If you have an agency which is difficult to get a response from regarding the viewing this may be a sign of things to come in the future during your tenancy.
- Look at the property advertisement
Look at how it has been marketed by the agency. Does the agency take pride in ensuring the most recent and best presented photographs are online? Is the advert descriptive? Are they images dated from years ago? An agency which takes pride in its marketing and providing the best adverts is usually a sign of an agency that takes pride in all aspects of work it is involved in.
- Look at the exterior of the property whilst vacant
The garden looks great in the photographs however when you turn up for the viewing the lawn has become a jungle. The way the property is maintained whilst vacant is a good sign as to the attitude of the owner but also the proactive nature of the agent in ensuring their owner does everything possible to have the property best presented.
- Ask the Property Manager about any work the owner is doing in between tenancies.
If there is an owner that is keen to do small touch ups in between tenants this is a good sign as they want to ensure the property is in the best possible presentation for all new tenants.
- Ask the Property Manager about items in the property and when they were last maintained i.e Air Conditioning, garage door
Knowing that an owner is conscious of ensuring all elements in the property are in constant working order is great for a tenant as it takes away that worry when something goes wrong from time to time. If you know you have a good owner and a good managing agent the issues are often rectified in no time at all.
- Have there been any renovations?
Was the property built in the 80’s but has a brand new kitchen and bathroom? This shows that an owner is prepared to make changes to the property to ensure it is as best as it possibly can be. Also, be sure to ask what prompted the renovations as this may show the owners attitude to maintenance items.
- Always ask questions!
Be sure to always ask questions to the property manager about the property. Always have a list of questions which would show the property managers knowledge on the property and the area. They might not know the answer there and then however if they are prepared to find out the answer as best they can this may be a sign of their attitude to providing a high service.
I hope this gives you an insight and some food for thought when you look at your next rental property. There may be one that is slightly more expensive however can you really put a price on having a great owner and also a great Property Manager?
For assistance in finding your next home contact the team at Rentwest Solutions 9314 9888 www.rentwest.com.au