Best ways to advertise a rental property

BMT team — Wed, 16 Feb 2022 05:18:26 +0000

There are many reasons why you might need to advertise a rental property. Maybe the investment property is being advertised for the first time. Perhaps an existing tenant doesn’t want to renew the lease or has handed in a notice to terminate. Whatever the circumstances, your property professional will be able to walk you through the best advertising options available to you. When listing a property it’s best to have your ‘perfect’ tenant in mind. This will help your property professional work out how to reach them effectively to minimise the period of lost rental income. Here are some of the best ways to advertise a rental property in today’s market. Online listing portals Social media Newspapers Signs and flyers Online listing portals When Australians are looking to find a rental property, they generally head online. Online portals like Domain and realestate.com.au have a substantial audience reach, with millions of users accessing these portals nationwide. Your property professional will be able to guide you as to which listing portal is more common in your area and will reach a more suitable audience. Example, Allhomes is more common in the ACT than other sites. These portals are easy to understand and navigate. Social media Advertising rental properties on social media platforms like Facebook, is becoming more common. With the opportunity to use both free and paid advertising, social media can be cost effective. While it’s not necessary to use paid ads, there are many benefits to doing so. These include micro-targeting for specific audiences, reports and analytics, ad forecasting, performance estimates and more. For instance, your ‘perfect’ tenant is easier to target than ever with Facebook’s audience targeting software. Using filters that target specific demographics like age, location, interests and even online behaviours can track and target potential tenants to receive your rental property advertisements. If paid ads are not an option, posting rental properties on real estate agency or personal pages can still be an effective advertising option, reaching a targeted audience with key word and filtered searches. The Facebook Marketplace page is also an alternative. Newspapers Newspapers are another effective way to advertise rental properties. Online newspaper ads can include links to other websites with directory to further information and photos. This could be a real estate agency website or the original property listing. It is good to keep in mind that online newspapers generally have a younger average reader whereas printed newspapers generally reach an older audience. If advertising in a printed newspaper, listing rental properties on Saturdays and Sundays may be more effective as people read newspapers more often on weekends. These advertising slots may be more expensive than weekdays but will likely reach a larger audience. Signs and flyers Signage and flyers can be an effective way to advertise and generate interest for an investment property in surrounding streets and suburbs. They are an inexpensive way to broadcast in specific locations, providing receivers with property and contact information. This may be important if seeking a specific type of tenant or advertising in areas with similar community engagement or services. Hire flyer delivery services are available in most main cities in Australia for a relatively cheap price, with some packages starting at $130 per thousand flyers. It’s important to remember that rental advertising costs can be claimed at tax time. The advertising expenses can be claimed in the same year that they were incurred, reducing an investor’s taxable income and improving their cash flow. A vacant investment property can also present an opportunity for improvements to be made to the property, since tax deductible expenses can be claimed as long as it is genuinely available for rent. If planning to make improvements to an investment property, it’s best to reach out to a tax depreciation specialist like BMT. A BMT Tax Depreciation Schedule outlines every depreciation deduction claimable from the rental property. To learn more about depreciation contact BMT today on 1300 728 726 or Request a Quote.

The post Best ways to advertise a rental property appeared first on .

Property market update – February 2017

BMT team — Wed, 08 Feb 2017 23:05:06 +0000

Property values 2017 kicked off with continued growth in house prices according to CoreLogic’s Home Value Index. Combined capital city dwelling values increased by 0.7 per cent in January and as a result, values are 10.7 per cent higher than this time last year. Over the three months to January, it was Hobart which surprising led the capital cities in terms of the greatest increase in values. Tasmania’s capital saw dwelling values increase by 5.8 per cent, reaching a median dwelling price of $366,000. Sydney and Melbourne continue to be consistent performers in terms of dwelling price growth. Over the three months to January values rose by 2.7 and 2.4 per cent respectively in these cities. The current median dwelling price for Sydney is $850,000 while in Melbourne it sits at $640,000. Darwin was the only capital city where dwelling values experienced a fall, declining by 1.7 per cent during the month of January to a median dwelling price of $490,000. Residential property listings The latest data from SQM Research indicates that the number of residential property listings available fell during the month of January. According to the report, the biggest drop was experienced in Sydney and Melbourne, where listings declined 6.6 and 12.3 per cent during the month respectively. Nationally, there was a 3.0 per cent decrease in the number of residential properties listed. The only capital city which experienced an increase in listings over January was Darwin, with a 1.5 per cent increase. Auction clearance rates Despite the slowdown in residential property listings reported by SQM Research, the latest CoreLogic auction clearance rates indicate that the market will gather momentum after the seasonal holiday slowdown. Already there has been an increase in the number of auctions across the capital cities over the past week, with 867 auctions reported for the week ending the 5th of January compared with just 368 auctions during the previous week. From the 867 auctions tracked, CoreLogic reported a preliminary clearance rate of 70.8 per cent, down slight from the 71.6 per cent recorded for the last week of January. Rental rates Figures from the latest SQM Research Weekly Rental Index for the week ending the 4th of February show that over the month of January weekly rents for houses decreased by 1.4 per cent whilst weekly rents for units increased by 0.3 per cent. Of the capital cities, Canberra and Hobart led the way with the most significant increases in weekly rents for houses and units. Canberra experienced a 2.2 per cent increase in house rents and a 0.4 per cent increase in unit rents while Hobart saw a 2.3 per cent increase in house rents and a 0.7 per cent increase in unit rents over the month. Asking rents for Sydney houses increased by 0.2 per cent over January. However, the New South Wales capital city also saw a decline in asking rents for units of 0.2 per cent. No other capital cities experienced a decrease in weekly rents during the month. However, the asking rents for Darwin, Brisbane and Adelaide units experienced no changes when compared with the previous month. Rental vacancies The most noteworthy news regarding vacancy rates reported recently were figures reported by the Property Council of Australia. According to the Property Council’s Office Market Report, there was a slight lift in office vacancy rates from 10.5 to 10.4 per cent. The Australian Central Business District (CBD) office vacancy rate has remained steady over the six months to January 2017, falling from 11.0 per cent to 10.9 per cent. Demand for office space has been strong in all capital cities and particularly in Brisbane, where the Property Council reported that office space in the city CBD is now more than five times higher than historical levels. The Sunshine Coast and the Gold Coast office markets have also recorded sharp declines in vacancies, with the two cities now sitting at 6.9 and 12.2 per cent office vacancy respectively. Sydney and Melbourne CBD’s continue to demonstrate a strong office market performance, with vacancy rates of 6.2 and 6.4 per cent respectively. Building approvals The Australian Bureau of Statistics (ABS) released the latest buildings approvals data for December 2016 in February. According to the report there were 17,327 dwellings approved in December, a fall in approvals of 1.2 per cent when compared with the previous month in seasonally adjusted terms. The drop follows a 7.5 per cent jump in approvals reported in November and the numbers of dwellings approved is 11.4 per cent lower than the same time one year ago. Finance and interest rates At the first board meeting of the year by the Reserve Bank of Australia (RBA) it was decided to leave rates on hold at 1.5 per cent. The decision was widely anticipated after all seventy two Economists surveyed by Reuters indicated they expected the cash rate to stay put. Despite record low interest rates, property investors may continue to face difficulties with new loan applications and requests to refinance. Just yesterday Commonwealth Bank subsidiary, Bankwest, announced it has again tightened their lending policies for property investors.

The post Property market update – February 2017 appeared first on .

» Rental Vacancies

Best ways to advertise a rental property

Property market update – February 2017