Tight rental market forces tenants to find their edge or risk losing out to competition

With vacancies rates dipping below 1% in parts of the region and a surge in demand, competition for rental properties is fierce in South East Queensland. Renters currently applying for properties are being forced to put their best foot forward to put them ahead in the eyes of landlords.

Managing Director of Solutions Property Management Laura Valenti said there had been a staggering increase in property demand over the past few months: “Demand is extremely high. In fact, I have never seen such high demand and low supply,” she said.

“We manage over 1000 properties in the greater Brisbane area and since the beginning of November 2020 our vacancy rate has been zero.”

With so few available rental properties, having an edge over other applicants is vital. While some people are offering more rent than advertised, some tenants are seeing better outcomes after completing a free, online tenancy skills course developed by the Tenancy Skills Institute.

The course was developed after extensive consultation with property managers, and covers the top four skill sets identified as crucial to a positive tenancy; communication, rights and responsibilities, maintaining a rental property and budgeting. Once complete, graduates are awarded a certificate to support future rental applications.

Tenancy Skills Institute State Manager, Mark Davidson explained tenants who complete the course will stand out from the crowd.

“Tenants who demonstrate an understanding of their rights and responsibilities, are effective communicators, budget well to pay the rent on time and maintain the property are at an advantage.

“The certificate might just make the difference on a rental application for some property managers.” said Mark.

Laura Valenti’s agency Solutions Property Management is just one of a growing number of industry supporters who agrees the course is of high value for tenants.

“It [the course certificate] would definitely put them above others who have a similar application,” said Laura.

Since it began, the Tenancy Skills Institute has given over 2000 Queenslanders a head-start in their rental journeys. Experienced renter, Wendy* believes that without the course she would still be searching for housing.

Wendy said: “The course did me great, I found it interesting, helpful and enjoyable.

“I was finally approved for a property after completing it and moved in at the start of January.”

 

Article Source: www.miragenews.com

 

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