Rental market soars on Capricorn Coast
IT'S all good news for landlords across the Capricorn Coast with the Real Estate Institute of Queensland reporting Livingstone hitting an all-time low vacancy rate of 1 per cent compared to a high of 12.3 per cent in 2016.
Yeppoon Real Estate principal Esme Coren said rental market conditions were tightening because of the increasing number of people moving to the area who typically begin renting before purchasing.
"The extra demand is seeing pressure on rental rates with rents finally on the increase which is welcome news for landlords after a decade of low returns,” Ms Coren said.
"We are experiencing multiple applications received on most properties and it is very competitive amongst some fantastic applications.”
For prospective renters, the news is not all bad.
Yeppoon Real Estate tenant Deb Holloway said the competitive market for rentals shouldn't deter renters from finding the right property.
"I have developed a good rental history by treating rentals like my own home and that has helped me when it comes to seeking a new property to rent,” Ms Holloway said.
"I believe it's important to have some pride in the home, look after the gardens and lawns and if you can, build a good working relationship with your landlord.
"It's a give and take situation, if repairs or works need to be done on the rental property show some flexibility in allowing access to the home.
"It's about working with the landlord or letting agent.
"To develop a good rental history, it is important to keep your rent paid up on time. If you have any problems a call to your letting agent to explain the situation makes the world of difference.
"Most of all I think honesty is important.
"Nothing is ever perfect in this world so if you can be honest and up front, you will build trust with your landlord and that goes a long way to building confidence and improving your record as a good tenant.”
Advice from senior property manager Briny Hawkes to take you to top of list in rental market
Have your application pre-filled and ready to go, so when your dream property becomes available you can submit your application straight away
Make sure you complete your application fully with 100 points of ID and include both personal and rental references and make sure that these people are expecting our call and provide their best contact number
Good rental history is always a winner, where we can see rent paid on time and no previous breach notices
Make sure you can comfortably afford the weekly rent based on your combined income and day to day expenses