As a property manager of over 30 years, I have never experienced a winter market on the Sunshine Coast such as the market of today.
The demand far outweighs the supply for the first time during June / July / August EVER - with rental values far exceeding owners expectations.
42 Groups of potential tenants through a 4 bedroom home in Maroochydore
39 Groups of potential tenants through a 2 bedroom villa in Buderim
19 Groups of potential tenants through a 3 bedroom townhouse in Mooloolaba
Why ? my personal opinion is the affect COVID has had on the rental market. A large number of landlords have moved into their property in fear that a tenant might not be able to pay rent resulting in an owner stuck with a tenant in place until 30 September 2020 not paying rent. A large number of people who moved to the Coast prior to closures to escape HOT SPOT areas where COVID cases are in abundance and finally for our Sunshine Coast residents who entered COVID in a property and were on lockdown, the uplifting of regulations coaxed a large number of tenants to move out and find alternative accommodation. Queenslanders moving within
It is a very new market, never experienced before and in order for potential tenants to maximize their success in obtaining the rental property desired .. here are a few pointers...
1. If you like the look of a property, do not be afraid to apply sight unseen or pending an internal inspection - send your interest to the advertising agent as quickly as possible so you do not miss out.
2. Attach a copy of your most recent rental ledger if you have one .. this will save the advertising agent having to contact your own real estate agent to ask for one, which can take a few days.
3. Attach a reference from your current agent if possible - again, have everything ready to go with your first application making it easier for the advertising agent. A reference from your current agent will save the advertising agent time to request one.
4. If you have a pet .. send a photo with your application - let the advertising agent know the age, type etc. .. photos will often stand out from other applications so let your pet stand out from the crowd and include a few interactive photos of your pet with family and / or friends.
5. Do not wait till the last minute to secure a property. Lead in times on the Coast are presently 4 weeks. So if you need to move within the next 4 weeks... start looking NOW !
6. With the market the way it is.. be prepared to be unable to find the perfect property. Look outside the perfect area you want and the perfect property .. you may have to shave a little off the wish list in order to ensure you have a roof over your head given the large numbers of potential tenants turning up to open home inspections...
7. Lastly, if you are applying with a group of people .. make sure ALL applicants are ready to go.. not just 3 out of 4 .. or 4 out of 5 .. the entire group needs to have everything ready to go ..
Just a tip for anyone over 18 renting with parents .. put yourself on the lease too .. it will create a credit rating for you and be much easier to rent once you decide to move out on your own !
Happy House Hunting
KAREN STEHR PROPERTY PTY LTD