Rental Market Overview

Rental Market Overview

Rental Market Overview

In our last Broome Activity Report we said 2017 had started with a bang! We are pleased to report this trend is continuing with the Broome rental market starting to buzz with excitement with a steady flow of enquiry being received. Tenants are still negotiating hard however there are strong signs of life the market is stabilising with the vacancy rate being reduced.
 
We are not yet at the stage where “supply meets demand” after all jobs and rental markets go hand in hand and only now seeing good strong enquiry for workers moving to Broome. Our Corporate database is becoming stronger thus indicating that 2017 should be a better year with improving conditions. Other green shoots coming through include our agency leasing several properties within a week or two of being on the market at near full asking rents and we have quality tenants still looking.  We currently have more than a dozen properties “under application” helping the Broome vacancy rate to continue dropping.
 
Properties with greater “tenant appeal” always get leased quicker as well as those that are well-priced to reflect current market trends; are in top condition or in a desirable location while those with swimming pools are always the first to go. The market is still competitive as at the time of writing, there are 177 properties being advertised in the Broome Region for rent - 92 of them houses and the remaining 85 are units
 
Effective property management is all about relationships so the ability to cultivate, foster and grow strong relationships like our rental Home Opens helps us build rapport and give greater efficiency and customer service. Our VIP Tenant Alert System is a star contributor where we notify prospective tenants as soon as a property is listed that may suit their criteria after all a happy tenant is crucial to the investment property’s success.
 
Our Agency consistently leases more property than any other Broome agent – in fact we consistently lease approx. 50% of the whole Broome market.  Our motivation is to be the expert in matching the right property with the right tenant. Our property management team works seamlessly with our leasing officer, our salespeople, our marketing team and all other support staff to provide a more holistic, integrated service. This strength in our agency means properties we manage get leased in a more timely and efficient manner.
 
We make it our business to get to know our landlords so we can understand their needs, objectives and expectations to maximise the performance of their investment property. Should you be interested in leasing your property or if you would like more information about our Quality Assured Management Services email our Manager of Property Manager Services, Charmaine Snow to show you first-hand what has earned us our impressive reputation
 
If you would like to discover what results we can achieve for you, email [email protected]  

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