Unless you’ve somehow missed the news over the past 12-odd months, you’ll know that rental markets have been in flux. With vacancy rates rising for private rental properties in Sydney over the last year, it’s never been so important to ensure that quality tenants are having a positive experience living in your property. This has always been one of our central principles at Let’s Rent: if you have great tenants in place, let’s do everything we can to keep them happy and renewing that lease!

 

Here are four of the most essential factors for a great tenant experience, and how each can help to keep your property consistently leased.

 

Clear communication

Many people have had a tough time of things throughout the pandemic, and clear, responsive communication is more vital than ever in providing peace of mind for tenants. Our residential property management services in Sydney are focused on maintaining respectful relationships with tenants and outlining expectations with clarity, so the tenant is never left in the dark. This includes answering phone calls and emails, and providing our personalised online portal to keep documentation and policies all in one place.

Responsive maintenance

Maintenance is, of course, an important element of a great tenant experience. Repairs and maintenance are to be expected with most properties, and it’s how these requests are handled that can determine whether the tenant chooses to stay on in the long term. We provide an urgent 24/7 phone number for all repair issues that can’t wait, as well as a straightforward online form for non-urgent repairs. Having a reliable network of trusted trades available at short notice is also essential to a positive tenant experience.

 

Consistency and reliability

Peace of mind is something both tenants and landlords are looking for, and having the right structures in place can help to provide that peace of mind. For example, at Let’s Rent 99% of our tenants pay via direct debit and understand from the very beginning that there’s zero tolerance for arrears. We take great care in adhering to the NSW Residential Tenancies Act, for example providing plenty of notice for rent inspections. Having this reliable framework in place benefits everyone: reassuring both tenant and landlord that their rights are protected and respected.

 

Proactive lease management

The end of a lease provides the ideal opportunity to retain a great tenant. Tenants may be going through any number of decisions as their lease nears its completion, including whether to move to a new area, choose a new property or to negotiate on rent. By communicating clearly with them ahead of time, we can get a sense of where the tenant is at and ensure a competitive rate for your property if they wish to stay on. We find that being proactive at this particular stage can save both tenants and landlords a lot of stress, in many cases!

 

If you’re been searching for the right property management team for rental properties in Balmain and Sydney’s inner west and eastern suburbs, get in touch with Let’s Rent today.

If you’re looking for a home that offers both a great community feel as well as simple connection to the city, then you really can’t beat Annandale. This suburb offers a welcoming village feel and a zippy commute to the CBD – who wouldn’t want that kind of balance in life?

 

What’s Annandale like to live in?

It’s easy to see why houses and private rental properties in Sydney’s popular suburb of Annandale are always in demand. The University of Sydney and University of Tasmania campuses are both close by, as is Royal Prince Alfred Hospital. Beautiful Rozelle Bay is situated directly to the north, while surrounding suburbs include Glebe, Lilyfield, Leichhardt, Stanmore and Camperdown. Residents are a diverse mix of families, couples and singles with quite a youthful vibe to the area. Quality early learning, primary school and high school are all covered, including Annandale Public School, St Brendan’s Catholic Primary School and Annandale North Public School. There’s also a convenient blend of supermarkets and local grocers.

 

In our experience providing property management services in Sydney, one of the great things about Annandale is the wider streets that make it both a family-friendly and bike-friendly place to live. Of course, the shining gem in all this is the proximity to the city, with several bus route options, the tram from Jubilee Park station or a drive of under 10 minutes. So what about when you’re not at work?

 

Here’s how you might fill your weekends in Annandale:

 

What types of rental properties are available in Annandale?

There aren’t too many large blocks in Annandale, but thanks to pocket parks all over the place you’re never far away from a green space. There are plenty of heritage houses and character homes as well as cool industrial-chic apartments to choose from. So whether you’re solo or coupled, or raising a growing family, you’re sure to find an ideal property in Annandale.

Explore available properties

 

If you’re a property owner seeking real estate property management in Annandale, Let’s Rent can provide expert service and experience in the local area. We can not only provide advice on the best rental rates for the area, but can also attract and screen quality tenants and ensure your rent is paid on time. Contact our specialists in residential property management in Sydney today.

While we firmly believe in providing genuine people-based property management services in Sydney, we’re also very aware that the right technologies can help to make these services more reliable, robust and responsive. Here are three big areas where our use of technology allows us to provide highly effective property management.

 

Maintenance requests and management

Here at Let’s Rent we use a modern software package that’s used by only 90 other agents in Australia, which enables us to keep better track of details relating to your property. Your tenant’s maintenance request doesn’t just get scribbled on a Post-It note and promptly forgotten. We make it easy to submit a maintenance request on our website or to email the team, and then we follow up with a timely response. Our internal systems enable us to keep a detailed record of property inspections, photos and maintenance requests and invoices so there is a clear record for owners.

Making your paperwork easy

You don’t need to be bothered by every detail of your investment property – that’s why you use residential property management! Our internal system allows us to offer a streamlined paperwork process for owners. We run a trust account for rental and bond monies, which is reconciled daily and audited annually. Rents are paid either fortnightly or monthly into this account by direct debit, which allows us to identify any issues very early on with zero tolerance for any arrears. We manage the payment of your water rates, council rates, strata levies and maintenance costs as needed. These costs are deducted from rental payments and transferred to you at the end of each month. You receive an email each month with a detailed electronic statement including all paid invoices. Then at the end of the year, we send through an electronic statement outlining your income and expenses. It’s all so much easier for you and your accountant.

 

Rent reviews and lease renewals

Tenants will naturally be reassessing their rental situation as their lease expiry comes up. Our internal systems means that we get in touch with you about 8 weeks before the lease expires to review the situation. We can talk about whether you have plans for the property, whether the tenant is interested in staying on and whether rent should be adjusted. Being proactive with this type of timing allows you and us to create the best plan for the situation. If your tenant will be staying on we get the paperwork organised to make renewal seamless, and if the tenant is moving on we can get started finding a new tenant to keep any vacancy period to an absolute minimum.

 

To get started with a modern and progressive property manager in Sydney’s inner west or eastern suburbs, contact the Let’s Rent team today.

As this year draws to an end we would like to thank everyone all for their support and patience in difficult times and new paradigms. We are very grateful for the understanding and warmth you have offered us and for this we offer our heartfelt thanks.

The shift in market conditions has been dramatic and a challenge for us both. Our team has worked tirelessly to ensure that your properties are leased as quickly as possible by shifting to more tenant interactions and more inspections.

Our vacancy rate for December has come in at 1.9%, down from 2.9% last month and a high of 5.4% in May. The REI Vacancy rate for November was 4.6% down from 5.8% in October which was the highest for the year and matched the rate in June. The rate for middle Sydney was 4.4% in November with outer Sydney falling to 1.8% from a high this year of 4.3% in July.

For 2021 we hope for better conditions in all spheres of life. We wish you all the best for the year ahead and we look forward to working with you once again. Happy New Year.

Let’s Rent
July 3.0%
August 2.8%
September 3.6%
October 2.3%
November 2.9%
December 1.9%
Six month average: 2.7%

REI Vacancy Rate Inner Sydney
June 5.8%
July 5.3%
August 4.7%
September 5.5%
October 5.8%
November 4.6%
Six month average: 5.3%

Conditions have been pretty much the same as October with inconsistent numbers and interest in rental properties. The one bed and studio market in inner Sydney is still experiencing an excess of stock which is putting pressure on rents. The three and four bed market has picked up with more enquiry from tenants ready to move. For example, we leased 311 Annandale Street, Annandale in record time at $950 per week with a tenant moving in just 5 days after we commenced marketing.

Our vacancy rate increased slightly from 2.3% in October to 2.9% this month and the REI October Vacancy Rate came in at a whopping 5.8%. The six month average for the REI Vacancy Rate is at 5.35% compared to Let’s Rent at 2.82%. We continue to engage strongly with potential tenants and we are showing vacant properties 4 times per week. We really think this pro-active approach is working. We picked up a couple of vacant properties in Erskineville this month which were vacant for 2 and 6 months respectively! Suffice to say the marketing was of poor quality and the previous agent was not showing the properties unless an enquiry came through. We refreshed the marketing with professional photographs including virtual furniture and enquiry came in immediately. Both had tenants commencing leases within 2 weeks of us taking the properties on.

Let’s Rent
June 2.3%
July 3.0%
August 2.8%
September 3.6%
October 2.3%
November 2.9%
Six month average: 2.82%

REI Vacancy Rate Inner Sydney
May 5.0%
June 5.8%
July 5.3%
August 4.7%
September 5.5%
October 5.8%
Six month average: 5.35%

Open inspections have been a mixed bag with a townhouse in Maroubra showing strong interest from renters. Good quality properties are also renting well with a three bedroom terrace house with garage in Paddington renting at $1,600 per week one day after settlement with the lease commencing 3 days later. We are seeing Australians returning home and this is adding to demand in some suburbs and price ranges, mostly high end.

Rents close to the city continue to be those most under pressure below $1,000 per week. I’ve set out a vacancy rate snapshot below from SQM Research’s data with September 20 versus February 20.

Alexandria 5.6% vs 2.9%
Rosebery 5.6% vs 2.8%
Balmain 2.8% vs 1.6%
Paddington 4.6% vs 2.1%
Neutral Bay 4.9% vs 3.1%
Pymble 5.6% vs 5.3%
Cronulla 1.6% vs 2.3%
Manly 1.5% vs 2.1%
Newport 0.8% vs 2.8%

This tells the story of people moving away from the centre of the city to beach suburbs like Manly, Newport and Cronulla with those suburbs with an oversupply of new stock having been hardest hit.

Our vacancy rate is edging lower again which we are super pleased about however we are still experiencing much higher vacancy than a year ago. Our vacancy rate came in at 2.3% compared to 3.6% in September. On the other hand the REI vacancy rate climbed to 5.5% in September compared to 4.7% in August.

We are hopeful that New Zealanders and Australians returning home will help soak up stock in inner Sydney suburbs.

Let’s Rent
May 5.4%
June 2.3%
July 3.0%
August 2.8%
September 3.6%
October 2.3%
Six month average: 3.2%

REI Vacancy Rate Inner Sydney
April 4.3%
May 5.0%
June 5.8%
July 5.3%
August 4.7%
September 5.5%
Six month average: 5.9%

The Big news for this month is that the government decided to extend the Covid legislation in relation to residential and commercial tenancies by 6 months. It was due to expire mid next month so will now expire mid-March 21.

There are several points that we need you to be aware of. As many of you may know, JobKeeper and JobSeeker were reduced last week and this may lead to further requests for rent relief. This is of course one of the effects of the extended legislation. When tenants contact us, we will follow the same process we followed in the first phase which will be to request documentation to demonstrate net loss of household income of 25% or more. This usually means payslips prior to the shutdown in March and recent payslips.

The second thing is that the extended notice periods will continue to apply. The main one is that we must provide a tenant with 90 days’ notice to vacate at the end of their lease.

Market conditions continue to be challenging and areas with new stock are the hardest hit. The REI vacancy rate declined to 4.7% in August from 5.3% in July. This mirrored the decline we saw in our vacancy rate in August however the rate increased in September to 3.6%. Our lowest vacancy during the Covid period was June at 2.3% and the highest was May at 5.4% which reflected the change in our ability to show properties that were tenanted.

Let’s Rent
April 3.2%
May 5.4%
June 2.3%
July 3.0%
August 2.8%
September 3.6%
Six month average: 3.3%

REI Vacancy Rate Inner Sydney
March 2.5%
April 4.3%
May 5.0%
June 5.8%
July 5.3%
August 4.7%
Six month average: 4.6%

DEPOSIT RECEIVED
Beautifully presented north east facing art Deco apartment tucked away in the peaceful heart of this harbourside enclave. With stunning original timber floors and light filled interiors, it’s in excellent condition throughout.Just moments to Elizabeth Bay ferry wharf and marina where there is an awesome waterfront cafe. Easy bus and train access to the city. Stroll to Beare Park and Rushcutters Bay with its popular cafe.

+ spacious entry hall with stunning original floors storage cupboard
+ charming living dining room with Deco fireplace, original timber floors, gas bayonet and harbour views
+ renovated kitchen with Smeg appliances including gas cooker and dishwasher; stone benchtops and plenty of storage
+ spacious main bedroom with extensive built in wardrobe
+ second bedroom with harbour views
+ fresh renovated bathroom with laundry cupboard (washing machine included)

Available 30th April (some flexibility to start earlier)

We would love to be able to notify you of all inspection times as they’re set which we can do via email OR SMS. Simply send an email enquiry to receive instructions on how to register.

DEPOSIT RECEIVED!

Located in a peaceful street, this beautifully furnished home is cleverly designed and equipped to a high standard. Offering air conditioned interiors and ceiling fans as well as high quality finishes throughout, it’s an oasis within easy reach of the city and local amenities. The light rail is a five minutes walk away which is a fast commute into the city.
The surrounding amenities include Leichhardt village with it’s cinema, cafes, restaurants and supermarket, Annandale village with similar amenities as well as the Tram Sheds with its supermarket, restaurants and access to the foreshore walk to the Fish Markets.

+ air conditioned open plan dining living opening to entertaining deck with stunning city and district views
+ stunning black polyurethane kitchen with gas cooktop, integrated fridge, Miele dishwasher and Calacatta marble island bench
+ air conditioned main bedroom with plenty of storage, queen bed and stunning city views
+ second and third bedrooms with queen and double bed respectively, both with storage
+ separate office or sitting room opening to covered outdoor entertaining area
+ main bathroom featuring Calacatta marble detailing, separate bath and shower, heated flooring
+ second bathroom with shower, heated flooring and Calacatta marble detailing
+ private grassed garden

Available from 12th April
6 months

We would love to be able to notify you of all inspection times as they’re set which we can do via email OR SMS. Simply send an email enquiry to receive instructions on how to register.

DEPOSIT RECEIVED!

Come home to this spacious three bedroom house in an ideal locale. Offering polished timber floors throughout. Feel at ease in a bright living area with ample storage. A great outdoor space to entertain in! Close to fast transport links to the city and seconds from Easton Park.

+ spacious living dining room
+ updated kitchen with stainless steel gas appliances
+ large master bedroom with floor to ceiling built in wardrobes
+ double second and third bedroom with built in wardrobes
+ all bedrooms with ceiling fans
+ main bathroom with shower over bath
+ second bathroom with a shower
+ internal laundry
+ private oasis like entertainers covered courtyard
+ great location

Available Now
12 month lease

We would love to be able to notify you of all inspection times as they’re set which we can do via email OR SMS. Simply send an email enquiry to receive instructions on how to register.