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%