“Townsville Property Owner Rewarded For Empty House”


Townsville property owner John Keir was amazed when he received his cheque for over $1800 this week.  


He said “My property was vacant for 39 days before they found a great tenant.  Coral Sea said they would pay the rent from the 15th day vacant – and they did.  This is really awesome.”


Biggest payout this year!


Coral Sea Director Shaun Podbury said “Mr Keir’s cheque was the biggest so far this year, with the average payout on the guarantee being $285.”


The purpose of the guarantee is to ensure we hold ourselves accountable to our landlords.  We have great systems and processes, and this “Pay your rent on the 15th Day” promise keeps the pressure on us to follow those systems.” he said


Coral Sea have raised the bar.


I think we have raised the bar on the expectations of landlords in Townsville.  We publish our vacancy rates, arrears levels and “in lease” rates.  This means property owners can see our performance levels at a glance.  The  “Rental Guarantee” which pays you if the property is vacant more then 15 days is only possible because we measure and manage all of the small but important things well.”


Zero days vacant.


For example, Coral Sea is working on finding a new tenant many weeks before the property is vacant with the goal of having zero days vacant.  Sadly in our industry, most property managers do little until the property is empty.”


Coral Sea has an average of less than 4 days vacant per year .



The average number of days that each Townsville rental property is vacant is 19 days (most recent) [Source REIQ Data].  Our current average days vacant is 3 days.  That is is what allows us to have the Rental Guarantee.  Other agents hate it.” said Mr Podbury.



More information


For more information and to see an interview with property owner John Keir please visit coral Sea owner information center.  






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