BY NICHOLAS HAYES, HEAD OF DEPARTMENT
The bayside property market is fast becoming one of the busiest and most sought after in south-east Brisbane. With recent growth in weekly prices of between 3% – 10% across the area, current property investors are seeing not only a better return, but also more choice in the type of tenancy.
While prices have increased and days on market have dropped, the different types of tenancy has brought a whole new dimension to the market.
Interstate movers for example, are looking for anything from the higher-end style properties to the quintessential Queensland bayside homes and are willing to secure in some cases sight unseen. Other potential tenancies seem to be endless, from short to long-term, families, couples, down sizers, retirees, and multi-generational families.
While we have seen 0% vacancy rates for a number of months, the current ‘for lease’ processes are paramount. The key is of course, pricing, presentation and then promotion of a property. While investors are seeing more choice in tenancies and are receiving higher returns, the expected standard of a property and expected level of service has increased as well.
This is not to say a property must be state-of-the-art and feature only high-end finishes; all properties should be well maintained, clean and tidy and presentable for any inspection. While ‘for lease’ inspections also need to flexible, the days of waiting for the phone to ring are gone. Open for inspections, private appointments, mid-week inspections and twilight viewings are a must.
We find a professional approach, professional promotion, and a genuine client experience is humanising the ‘for lease’ experience. This ultimately improves the tenant’s experience for the period of the tenancy, which in turn improves results for owners.
With our Property Management Team of Bree Manship, Kirralee Cox and Miles Baker our internal procedures and checklists enable us to ensure the experience remains the same whether you are an investor, trade or tenancy.