Our Newcastle Property Management team thought it was time to update landlords in this unusual time.
In much of Australia, the rental market has had negative effects from COVID-19. Yet, Newcastle is bucking the trend.
In fact, at Property Solutions 101, we have no rental vacancies at the moment. We have leased 21 properties in the past two months. Of these, our switched-on property managers have let 5 rentals “off market” being conscious of costs. This means no advertising costs for the owner with many having one to two days between the vacating tenant moving out and the new tenant moving in. This is one more way our property managers maximise your return on investment.
We haven’t needed to drop the rent on any of our properties as demand has remained strong. In fact, we have been able to increase the rent on several of our properties under management.
As an example, Property Solutions 101 recently gained a new property to manage. It had been on the market for 104 days with the previous agency, we leased it in 16 days, without lowering the rent.
The key is our proactive approach. Property Solutions 101 took clients out one at a time, at a time that suited the tenants. Another way we are able to commit to our landlords.
Rest assured, we’re still taking care of your valuable assets. We are working hard get our clients the best possible return. At this stage, the rental market here in Newcastle is still very healthy.
We wish you good health.