Dear Coral Sea Property Team, We would like to express our gratitude to the fast and professional reaction of your maintenance team. We moved in to our rental property after a long wait in last Saturday. There were some issues with the house that needed immediate attention. I called Coral Sea Property office about [...]
How to Make an Extra $1,500 a Year from Your Townsville Rental Property
Certain months of the year produce higher rental returns for Townsville rental properties. When you know these months you can restructure your leases and earn hundreds and hundreds of dollars extra each year.
The Secret Townsville Rental Strategy Revealed
Townsville’s rental property 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 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 $1,500 per year in your pocket!
Townsville’s “Old School” Rental Managers Can Cost You Money
Amongst traditional “old school” rental property managers there seems to be a, “this is how we’ve always done it,” mentality.
These rental property managers regularly accept 12-month leases in months like November and May compounding your losses year after year.
By combining our knowledge about high yielding months with strategically termed leases we are able to consistently provide higher returns to our owners.
Couple this strategy with the five tips for keeping top tenants and you’ll find owning a Townsville rental property will be financially rewarding and stress-free.
If you would like to know more please call 4724 1723 or email rentals@coralseaproperty.com.au.
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