Is now a good time to expand your property portfolio?

We are currently seeing low vacancy rates in many markets across the country, with suggestions made that they will continue to remain low for some time. With this in mind, now may be a very good time to consider expanding your property portfolio.

Low vacancy rates indicate a surge of interest in a particular suburb, which can often spread to neighbouring suburbs as availability of rentals decreases. As a property owner, the last thing you want is for your property to be sitting dormant for some time without any interest from tenants.

With tenants finding property hard to come by, it can be expected that a property in the right area will lease fairly quickly.

Like any property investment, location is key. Consider what the suburb has to offer for potential tenants. Access to transport, amenities and schools are big advantages and will increase interest from tenants.

End-of-year is a particularly busy time for rental properties, with many people choosing the extended holiday period to relocate in time for the New Year, and especially the new school year or university start. This means many people will be looking for new rental properties within coming weeks, making now a goodtime to consider your current portfolio.

Your property manager is here to help, so talk with them about popular areas where they are seeing growth. They may refer you to a sales agent to discuss what properties are available. Talk with the people in the know about rental return and the potential for overall return on your investment.