At ReDIY. There are a few reasons for this. Let's examine each of them separately.
Where is the property advertised?
You are not going to find a tenant if they are unaware that it is available for rent. Many Private Landlords, use a site like Gumtree, as it is free. This is not the best option. The cost to advertise on Real Estate Sites, is a great deal less than the amount you have lost from your property being vacant for 3 months. Gumtree is a great site that is visited by a great many people each day. You have to ask yourself, are the visitors, potential tenants?
It is more likely, they are bargain hunters trying to snap up a second hand item for a great price. Good quality tenants, with a great rental history, go to the sites that have many available rental properties.
What are the best sites to advertise a rental property?
Without question, Realestate.com.au is Australia's #1 property site. Although, Domain.com.au has a monopoly in some states. Rent.com.au and rentfind.com.au are also dedicated real estate sites that receive tenant traffic to their sites. Let's look at the two major players.
Realestate is for Real Estate Agents only. They do not permit private Landlords to directly access their site. Doesn't sound like much help, does it? It's OK, by using a company like ReDIY, who are Registered Real Estate Agents, you can have your rental property listed on Realestate for a low one off fee, until leased.
Domain does allow Private Landlords onto their site. However, their charges are a lot higher than we charge at ReDIY. There are differing costs for differing lengths of time advertised with Domain. ReDIY, only charges a one off fee and the advertisement remains until the property is leased.
Advertising with ReDIY on the major sites.
Is easy. Simply visit ReDIY and sign up. Enter a username and password and it will create your own dashboard on our site. Enter your contact details, the property advertising text and upload the photos. Pay a small fee and click "Go Live". The property is instantly listed on Realestate, Domain, Rent.com.au, Rentfind.com.au, Allhomes.com.au, Homely.com.au, Squiiz.com.au, Property.com.aua and more. We have a live feed to all of these sites. You can do this from any device at any time of the day or night. You do not need us to do this. Our site is available 24/7.
However, if you do need some assistance, we are available from 7 am to 9 pm weekdays and from 9 am to 6 pm weekends. ( EST times. ) You can contact us by phone, email or on the chat function on our website. Any alterations or updates to your advertisement can be done by you, simply by accessing your dashboard on our site. There is no limit to these and no charge. It is a easy and convenient way of updating your open for inspection times. All the initial enquiries are forwarded to you by email and dropped into your dashboard. The initial enquiry must firstly come via us. This is because of the policy of Realestate.com. Once you have made contact with the enquiry, you can then communicated directly with them.
3 month's vacant, why else could it be?
Is the rental amount correct? It is a good idea to have a look on the major real estate sites to see what your competition is. Look at similar properties, in the local area and see what the rental amounts are. Do these properties offer more? A vacant property for 3 months, is a lot of money lost. A $20 a week reduction in the rent may be all that is needed. A rental at $400 a weeks over 12 weeks is $4800 in lost income. A 20 week rent reduction throughout the term of the lease, say 6 months, is $480 less income. You can always enter a condition in the lease that the rent will be increased after the 6 month initial lease period.
Advertising Text and Photographs.
Be imaginative with the text. It needs to be appealing to the tenant. It can be written in an essay format or in bullet points. The heading needs to be a grab. To grab their attention. It should be something about either the property or the location. What is the best feature? Put that in the heading. List all of the fixtures, fittings and extras in the property, such as Air conditioning, heating, ceiling fans, dishwasher, en-suite, outdoor entertaining and car accomodation. These can make a difference to a decision too inspect or not. Pools are in demand in the heat of summer. Fencing is also important for families with small children or pets.
The location needs to be included. The proximity to parks, bike tracks, public transport, shops and schools can also make a difference. If the property is situated within a catchment for a sought after school, highlight this.
The photographs need to show an accurate insight into the property. They need to be of a high quality. The head photo, which is seen on the first page, is the most important one. It could be the determining factor as to whether the tenant looks further at the advertisement. If you do not have a good quality camera, ask a friend to borrow one. You may even want to consider professional photos. These can be re used at a later date, when the property becomes vacant again.
Advice from ReDIY.
The best advice we can give as to why your rental has been vacant for 3 months is:
- Advertise on Real Estate Sites.
- Be realistic with the Rental amount.
- Have an eye catching advertisement and good quality photos.