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What is the best time of year To Rent Out my Property In Order To Maximise my Returns?
Townsvilles level of rental enquiry for properties is substantially higher at certain times of the year.
There is a much higher demand for rental properties in months such as January / February and June July. By organising the lease on your property to only expire during the busy periods REIQ statistics show we can gain as much as 10% extra in annual rent. Money in your pocket. Do they even know the four different high demand months when you should be looking to lease your property and the 2 months that should be avoided at all costs?
Another thing your current agent may do for you is actively seek lease renewals. It is quite common for an agent to put your tenant in and then ignore your property until the tenant gives notice to leave, once a lease has expired it automatically turns into what is known as a periodic tenancy. During a periodic tenancy a tenant need only give 14 days notice before they can walk out leaving the owner without an income.
At Coral Sea we want to provide our owners with security so we always try to keep tenants on a fixed term lease. As a result over 95% of our tenants are on fixed term agreements (Ask your current agent what percentage they have). Six to Eight weeks before EVERY tenancy expires we recontact your tenant to begin negotiations to renew the lease and again use this opportunity to move the lease into a higher demand period.