Thursday, February 26, 2009

Time to Rent

Time to Rent The times we live in remain very interesting but our Property Management department have experienced a welcome active start to 2009.
Over the past few weeks we’ve been bringing you updates on the sale market through this magazine and Saturday’s Advertiser, and right now we’re seeing investors actively re-entering the scene. Reasonable property prices, low interest rates and high rents are all combining together to make property investment more appealing to both large and small investors.
The smart investors purchasing at the right price in good locations are already experiencing positive cash flow. Most of the talk these days is about the first time home buyer market and its boom like conditions, in some lower price segments, fuelled by Government initiatives and low interest rates. However, we are experiencing an unexpected up-lift in the higher end of the market.
Out in the Property Management arena our Leasing Managers are reporting that tenants are out in full force and rental properties are in high demand.
Throughout the city and inner suburbs residences under $400 per week are receiving strong interest with the $250-$350 per week bracket being in huge demand. These properties are attracting an average of 8 applications following the first viewing, with some open inspections being attended by up to 50 prospective tenants. In the North East 3 to 5 tenants are applying for properties within a similar price bracket. Across the Adelaide coast young singles, couples and students are seeking homes and properties in the executive $500-$600 per week bracket are renting well.
Toop&Toop property management remains committed to developing and improving the service we offer our landlords. Their valuable feedback has helped us scope the first part of our property management innovation program.
During the next few months we will be installing the infrastructure for our new Virtual Management system. Working in harmony with VirtualAgent® this latest innovation will give us increased ability to communicate more regularly, improve control of maintenance and capacity to expand our service over the next few years.
If you would like to know more about the Property Management services we provide to our landlords, call our office today on 8362 8888.

Ian Darbyshire, CEO <>
© Toop Real Estate Group

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