Bust! Renting your investment property next year will be a whole lot different by Q3, says Christopher’s Boom or Bust Report released today from SQM Research. If you own a residential property investment, this is full of the stats and insights every Australian property investor should openly inspect.
Like Instarent, SQMs philosophy offers best-in-class rental management solutions for everyday investors who want to lease their properties and profit. If it’s one rental property or sixty, there is zero difference – we all seek to reap positive rental rewards from each residential property.
Evening the playing field for Mum and Dad investors to access the same tools and information larger companies and realty agents do is the equalizer needed. Simple access, intelligence, and affordability for all in one impartial and comprehensive report on the Australian property rental market for 2022.
Is there’s an up-and-coming boom or bust scenario in your State?
With a country-wide knowledge base of nearly every city and regional area covered, you can find the accurate stats and rating outlook for your rental homes. Next year, whether you self-manage or outsource your rental portfolio will require significant changes to maintain margins as we advance into the 23 and 24 financial years.
It’s reading like a doomsday scenario for investors with the Aussie housing market reaching its peak, historical home over-valuations, interest rate rises and now APRA announcing some action before the end of this year. Regardless, as we are still in the Covid uncertainty phase, anything could happen, so it’s best to investigate some options in case the worst scenario comes.
Boom! Self-managed renting is the new residential management solution for savvy property owners. The 2022 Property Management Report (not allowed to share) had a more positive outlook on maintaining your margins going in the future.
Surveying thousands of property managers, renters and rental owners
The report stated that 42% of property managers chose to attract and retain great residents as a primary goal for this year, rising by an unprecedented 30 percentage points since 2019.
While only 27% of commercial property agents said “exceeding client expectations” will be the focus of their new year. It’s boom or bust here too, and residents are finally getting a look in (no brainer) while our commercial agents will not do anything different—one step forward and the other steadfast in a refusal to even take one.
Funny how an app can have more empathy than my agent
There was a considerable uptake in property technology, with all proclaiming it a must-have in the report. The right tools in place offer the freedom to operate anywhere anytime and, on any device, now a necessity.
Thankfully, customer focus, instant expertise at a tap, and fulfilling a renter’s expectations were the high points on the roadmap.
A renter demands they have the same tools at their disposal too.
Standard leasing processes are robotic anyway, so by quickly automating and offering 24/7 365 rental services, your applicant/renter does all the paperwork themselves.
Moving into online and automatic real estate rental applications, payments, condition reporting, bond and maintenance requests is now as simple as downloading an app.
Investors are at the forefront and need a few solutions to battle what may be a few bad years ahead for the Aussie residential real estate industry. Instarent offers both the property owner and the property renter everything in one app.
The only platform that looks after both owner and renter
Instarent offers property managers the tools to self-manage their rentals from listing to lease and everything in-between that covers compliance, automatic rental payments, communications with tenants, maintenance, and so much more, including qualified humans ready to assist with anything you need.
The what-if scenarios are rampant, but one thing is for sure, what goes up must come down. Maintaining current margins will be more challenging. Our ride has been tremendous, but we need to adjust the rent (can’t increase it) scenario if the current market trends are correct.
If all the reporting is correct, you might want to consider evicting your agency due to high costs, inefficiency, and charging you thousands more a year that could be in your pocket.
If rent falls, then going virtual is the simplest way to balance the budget.
Until next time and thanks for yours