Published on April 27th, 2014 | by Chris Snell - Rental Success0
Trending rental market is good reason for rental management companies to promote good rental management services
Many years ago the Aussie dream of home ownership was both the promotion of government and your grandparents. The concept of being a renter for life was something you did in the UK not in the lucky country, Australia. Well rental management companies and property managers need to pay attention. The tide is turning and the need for continuing rental management services has become exactly that. A report released today by realestateVIEW.com.au presents research data to suggest that the many renters are in the market place for the long haul and they are not ashamed of being tenants. This is good news for the property owner who simply wants good people to, “rent my home”.
“The Housing Sentiment Report – examining the lifestyle preferences and affordability concerns of over 1200 buyers and renters – shows one third of tenants have been in the rental market for five-plus years, with affordability a major deterrent to entering the market.
What is preventing them from buying?
- Half of renters believe they can’t afford a deposit;
- 32% believe they can’t afford mortgage payments
- 28% of renters haven’t bought a property because they can’t afford to buy where they want to live
- 25% think the market is overpriced
- 22% believe it’s cheaper to rent
- 18% have difficulty obtaining finance
- 16% don’t want to be tied down to one place because of a mortgage
- 12% have already bought an investment property