Scarborough-based Aussiepropertyperth.com provides property management services across the metropolitan area.
Director Paul White said demand for properties varied, depending on clients’ needs.
“We lease myriad different properties to myriad different clients and all have specific needs or requirements,” he said.
“Some require close proximity to the CBD, others need to be in particular school catchment zones, while others wish to be located near certain amenities or geographical locations such as beaches etc.”
Mr White said his agency was currently experiencing high interest in coastal suburbs such as Scarborough and City Beach.
“They are beach-side suburbs and have good infrastructure and government-funded improvements which draw people to the area,” he said.
“The demand for inner-city living is on the rise, especially with those working in the CBD, whereby they can walk to work or take advantage of free transport systems.”
Property manager Jemma Shipman said, regardless of location, tenants had similar wants and needs.
“In general, they are looking for airconditioning, secure garage, to be close to amenities and transport, and better-than-average presentation,” she said.
Ms Shipman provided these tips for people looking to buy an investment property:
n Research the suburb/s you are interested in and familiarise yourself with property values and past sales so you can make confident informed decisions.
n Do your own market research on a property’s prospective rental value, ascertain annual rent returns and yields, so you have an accurate forecast on how the investment should perform over time.
n Picture yourself in the home – would you live there? If not, chances are tenants won’t either or they may overlook the home in lieu of another which is cleaner, neater and generally better presented. Remember the market is very price-sensitive at the moment, so if your investment property is not presented to its maximum potential prospective renters will keep walking to something more appealing and/or cheaper.
n Employ the services of an expert property manager who can advise you on how best to present your home to the rental market and in turn achieve maximum rental returns. A good property manager also will have procedures in place to select suitable tenants that will not only pay rent on time but maintain your asset throughout the lease term.
n Investment properties should be looked upon as a long- term commitment in which equity is built up over years. Avoid the pitfalls of “flipping” property – this is not the market to expect short-term gain.
n Be realistic with respect to the rental figure you are asking and listen to the market feedback from your property manager. If the property has had no enquiry within the initial stages of a marketing campaign, you can pretty much bet your rent is too high. Investors have to meet the market, the market won’t meet them in these conditions. n