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An Extra $1,500.00 per year?
Discover how the strategic timing of your leases can add $$$’s to your bank account.
Townsville’s rental market experiences significant highs and lows throughout the year and this trend has been fairly consistent for over a decade. For owners in the know, this trend can provide some huge benefits. Military and government transfers as well as university and to a lesser extent public service, hospital and mining jobs all have a marked effect on Townsville’s supply and demand.
REIQ statistics show (and our own research confirms) that in the months of January and February and to a lesser extent June July and August – achieved rents can be up to 10% higher than during our weaker months of April May and November.
This means that just by adjusting your lease to end during these periods of higher demand, according to REIQ statistics, you could be $30 per week better off for an average 3 bed home. This equates to an extra $1500 per year in your pocket!
Many people are unaware there is no legal requirement to accept a 6 or 12 month lease as ‘standard’.
“OLD SCHOOL AGENTS CAN COST YOU MONEY”
Amongst traditional “old school” real estate agents there seems to be a “this is how we’ve always done it ” mentality. These agents regularly accept 12 month leases in months like November and May compounding an owner’s (ie your) losses year after year. Whilst we acknowledge you cannot always control when a tenant departs from a property, here at Coral Sea we take a “strategic” approach to all our leases anare pretty brutal when needed to get all our new and existing tenants into leases that fall due only during these high demand months. By combining our knowledge about these high yielding months with strategically termed leases we are able to consistently provide higher returns to our owners.