Lockdown’s over, the neighbourhood is buzzing again and the rental market is tight. So it’s essential you’re prepared before you jump headlong into the time-consuming task of finding a rental property.
REIWA President Damian Collins said the strong demand for rental properties was continuing, with a 27 per cent increase in leasing activity on the previous month.
“Looking ahead, the median rent per week should remain at least stable until the end of the year, with any increase in rent only allowed on new rental listings,” Mr Collins said. “Legislation implemented in the Residential Tenancies (COVID-19 Response) Act 2020, means occupied rentals cannot have a rent increase until October.”
Jones and Co. director Kelly Jones said data from realestate.com.au and REIWA showed that suburbs like Bayswater, Bassendean and Nollamara remained strong performers in the rental and investor market.
And competition among tenants has increased significantly, Kelly added.
“This means people have to be faster and smarter to secure a lease,” she said, adding that many prospective tenants often wasted time looking at properties that didn’t meet their needs.
“Property managers are a logical place to start — it makes sense to talk to someone who knows the area. An experienced property manager can give you a real head start.”
The team at Jones and Co. have come up with their top 10 list of considerations to help narrow the search for a suitable rental.
1. Do you want to be close to schools, public transport and parks? How far are you willing to travel to work? Make sure you consider things like shops, public transport and access go main arterial roads.
2. Do you need car parking? Check what listings are offering. Ie. off-street, carport, garage etc.
3. What are the security arrangements? Is the area safe and do you have adequate privacy?
4. Can you afford to rent by yourself or will you need to share? When researching a suburb, familiarise yourself with the area’s median rent price so you know what to expect to pay for a house or apartment. If you are keen on a particular suburb but it’s a little beyond your budget, it may be worth looking into house sharing.\
5. Do you have a pet? Looking for a rental property in Perth to accommodate you and your furry friend can be challenging. The good news is that it’s becoming more common for landlords to allow pets. Make sure you discuss this early in the process to avoid disappointment.
6. How much space will you need? As you move closer to the CBD space may be a factor with many apartments and there will be less bang for your buck.
- 7. Check inspection times for those properties that spark your interest and make sure you register so you don’t miss out.
8. Never sign a lease without viewing a property first. A few phone conversations and an email chat aren’t the same. This contact will also give you a chance to make sure everything is in working order (oven, shower etc) before you sign.
- Be polite to the property agent. It’s their endorsement that will ultimately decide whether you are the right tenant.
- Have your references prepared and make sure you are available to take calls from property managers.
For more information on renting or buying an investment property, call the team at Jones and Co. 9377 3336 or email askus@jonesandcoproperty.com.au.Get the latest property market updates and listings for your neighbourhood.
No sales calls, just the latest property info straight to your inbox.
