Would like to know the views from the forum regarding the current rental market in Brisbane - particularly those who have IPs there.
We have an IP in the Morningside / Murrarie / Cannon Hill area of Brisbane. It has been vacant for 4 weeks and no tenant. We spoke to the property manager last night, asking questions whether we should drop asking rent and the current state of play of the rental market in Brisbane.
PM said the house is in excellent conditions. She has shown groups of people through, but of course there were reasons why people were not putting in applications. She said the asking rent is about right for our house. She said the rental market has been very slow. She has had open houses for other slow moving IPs and no one turned up. She knew some agents have offered incentives to potential tenants (eg free iPads) but still no takers.
Not sure if the above explanations reflect the state of the rental market, or if we should change PM?
Appreciate any view. Thank you.
PS - we are currently living overseas, so cannot go to Brisbane to check out the property or market.
We have an IP in the Morningside / Murrarie / Cannon Hill area of Brisbane. It has been vacant for 4 weeks and no tenant. We spoke to the property manager last night, asking questions whether we should drop asking rent and the current state of play of the rental market in Brisbane.
PM said the house is in excellent conditions. She has shown groups of people through, but of course there were reasons why people were not putting in applications. She said the asking rent is about right for our house. She said the rental market has been very slow. She has had open houses for other slow moving IPs and no one turned up. She knew some agents have offered incentives to potential tenants (eg free iPads) but still no takers.
Not sure if the above explanations reflect the state of the rental market, or if we should change PM?
Appreciate any view. Thank you.
PS - we are currently living overseas, so cannot go to Brisbane to check out the property or market.