The rental market is still a little “hot and cold” (we are all about the weather at the moment) in our area with the days on market for some properties stretching out more than we would like and others leasing very quickly.
As a property owner, you might be forgiven for thinking we are sending mixed messages when we say this, given there is so much talk about a rental crisis in the media and reports of skyrocketing homelessness.
News reporters are limited with the time they have to share their stories so we don’t always get to see/hear the full picture. Also, they have a job to do and that is to grab our attention as quickly as possible and let’s be real, the different layers of the rental market don’t always make the best eye-catching headlines.
This is why we are sometimes providing suggestions or feedback that seems in direct contrast to what the rest of the world is saying.
At the moment, whilst there is good interest from renters for most of our available properties, the standard of the applications being received is not always where it needs to be.
We are also finding those we regard as “quality renters”, who are active in the market at the moment, are very value driven. They know how much they are prepared to pay and will dismiss a property if it is even slightly above their budget. This is why a tweak to the advertised price is sometimes required to gain their interest. And then when that happens, we can’t delay in making a decision to approve their application if it ticks all the right boxes.
They will simply move on to the next property in the blink of an eye, and we don’t want that.
As a property owner, you might be forgiven for thinking we are sending mixed messages when we say this, given there is so much talk about a rental crisis in the media and reports of skyrocketing homelessness.
News reporters are limited with the time they have to share their stories so we don’t always get to see/hear the full picture. Also, they have a job to do and that is to grab our attention as quickly as possible and let’s be real, the different layers of the rental market don’t always make the best eye-catching headlines.
This is why we are sometimes providing suggestions or feedback that seems in direct contrast to what the rest of the world is saying.
At the moment, whilst there is good interest from renters for most of our available properties, the standard of the applications being received is not always where it needs to be.
We are also finding those we regard as “quality renters”, who are active in the market at the moment, are very value driven. They know how much they are prepared to pay and will dismiss a property if it is even slightly above their budget. This is why a tweak to the advertised price is sometimes required to gain their interest. And then when that happens, we can’t delay in making a decision to approve their application if it ticks all the right boxes.
They will simply move on to the next property in the blink of an eye, and we don’t want that.
