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Rents Up In Brisbane

Discussion in 'Real Estate' started by Jenny, 24th Jul, 2006.

  1. Jenny

    Jenny Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    103
    Location:
    Canberra
    We have just let 2 properties - Ascot and Greenslopes with increase in rental $25pw and $40 per week.

    In both instances we were offering 6 month lease to bring the next turnover in Jan/Feb and then 12 months. Both new tenants insisted on 12 months, so I relented:rolleyes: PM says tenants are seeking security in a tight rental market.
    (so hopefully it will still be tight mid next year when they turnover again)

    What are others experiencing?

    Cheers
    Jenny

    ps I rountinely try to get an idea of what is happening in Bris by using realestate.com.au. Is this still the biggest resource?


    Also have just paid rates to BCC so have 3 lots of greenwaste vouchers etc that I can't use. If anyone can make use of them I'm happy to post.
     
  2. pete152

    pete152 New Member

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    9th Jun, 2006
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    3
    Location:
    Brisbane
    Jenny I could use those vouchers if you have no use for them.
    I will Pm my address.
    Cheers,
    Peter
     
  3. perky

    perky Well-Known Member

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    Location:
    Sydney
    Come September, it looks like my Brissie property will get around a 10% rise....happy days for me. So there is defintely some truth to this.
     
  4. Tom&Don

    Tom&Don Active Member

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    Location:
    Melbourne
    ooops i threw my waste vouchers out ... not much use to me down in melb lol.
     
  5. Tzaki

    Tzaki Well-Known Member

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    20th Sep, 2005
    Posts:
    72
    Location:
    Canberra
    Realestate.com is still a geat resource, but for rentals there is also SEQ rents that property managerws use to advertise rental properties. It gives you an idea of comparitaive rents etc.. Just something that I use as well as realestate.com

    http://www.seqrents.com.au/index.htm
     
  6. pete152

    pete152 New Member

    Joined:
    9th Jun, 2006
    Posts:
    3
    Location:
    Brisbane
    Brisbane's rent seem to be on the increase all the time. But looking at for sale signs, they seem to be staying a bit longer now. We have not looked in depth at it for a while just general observation.
    Cheers,
    Peter
     
  7. Jacque

    Jacque Team InvestEd

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    Location:
    Sydney
    Good to see Brissy rents moving- I'm sure my PM's will be receiving an email from me sooner rather than later about this!

    The rise just might offset some of those nasty electric eel bills I keep getting from plumbers..... :D :D
     
  8. D&K

    D&K Well-Known Member

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    Location:
    Canberra
    PMs in Brissy have already advised us that we should be seeing $20 - $30 at the end of the current contracts. Unfortunately we will loose some of that to an average 5%...ish rise in rates ... and then interest rates :(

    But it's still better than increasing costs with no rent rise :)

    Dave
     
  9. Jacque

    Jacque Team InvestEd

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    It does seem a case of two steps forward, one step back at times, Dave. I agree with your sentiment :(
    Rental rises in Brissy, however, are overdue and have been low for some time, in my opinion. Good to finally see them creeping up to the 5% mark.
     
  10. D&K

    D&K Well-Known Member

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    Canberra
    Definately overdue! Commercial also seems to be a low return at the moment, despite media reports of shortages in the market. Maybe these will begin to rise soon also? I'm currently considering a commercial investment in Brissy, but the numbers aren't great on the cashflow side.

    Dave
     
  11. Tropo

    Tropo Well-Known Member

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    Location:
    NSW
    Can I increase rent before the end of the current contract or it can only be increased with the new contract???:confused:
     
  12. Jacque

    Jacque Team InvestEd

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    Hi Tropo

    See here for all the answers:

    http://www.rta.qld.gov.au/increasing_the_rent.cfm

    It's a good idea to always revise the rent at least 10 weeks prior to a lease renewal, however, so that the required notice is sufficient.
    Good luck with it all :D
     
  13. Tropo

    Tropo Well-Known Member

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    NSW
    Hi Jacque,
    Thanks a lot for a helpfull link. I will let you know how I go.
    :)