RENTALS

Well with all the publicity of rentals dropping and the suggestion to the tenants to re negotiate their current rents - this is causing a bit of havoc and probably not the right impression of the current market as it is today, the market changes weekly so everyone needs to be in constant contact with your agent for the updates.

When the tenant has been in the property for quite some years they probably are not paying the current market value as the owner has rewarded the tenant by keeping their rent below the current market.  If the tenants rented the property two years ago they probably did so in the height of the market, these are the ones that probably could be adjusted a little.

Tenants should remember however that moving house does cost money so they should weigh it up before embarking on this process.

Owners you need to keep your properties up to speed and make the rental as attractive as you possibly can as you have a lot of competition and the ones that present the best are definitely renting.

January there now seems to be a lot more inquiry on the rentals and applications are coming in so I wouldn't be too alarmed at what's been happening.  You just need to have good property managers who tell you exactly what's happening in this current market.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!