What we're doing to reduce vacancy for our clients

The vacancy rate has crept up yet again to 5.6% and the median rent is down to $410. Whilst Benchmark's vacancy still sits much lower than the Perth average (21 days vs  29 days), we are more conscious than ever that we must do our best to avoid higher vacancy, especially as we approach the December - mid January lull.

 

Avoid tenants vacating

Our goal is to maximize the rental return on your investment property, however obtaining the best rental price is just one component of ensuring your investment achieves the best returns. Having a constant revenue stream is vital to ensuring the financial success of your investment, and in this market, if it's possible to entice the current tenants to remain by reducing the rent, this is financially more beneficial.

Professional photos

The first place today's prospective tenant starts their search for a rental property is online. Statistics show that rental properties with professional photography lease quicker and achieve an optimal rent. By investing in professional photos, your property instantly becomes more appealing to prospective tenants who will be more inclined to click, enquire, and view. Ultimately, the more people that come through the door to view, the higher chances are that they will apply. We have recently been engaging Real Property Photography who offer a $95 photo shoot special. These photos can then be used each time the property comes available and is advertised.

Digital Marketing

Supporting our photographic representation of your listing, we work closely with digital marketing agency, Living Online. Together, we're able to put the Benchmark brand and client homes infront of prospective tenants. We use the likes of Google and Social Media to let the community know that we're here. This also means that we're putting ourselves in front of candidtates that are best suited for living in your home.

 Lease Terms

Not a new concept, but certainly a tactic that we are pushing harder this year is to avoid new leases and lease extensions expiring between December and mid January. This is of course to avoid the most quiet time of the year for leasing - the Christmas holidays. We will continue to suggest 11 or 13 month leases instead.

Prospective Tenant Action & Pooling

Unlike some agents who only advertise a home open time and then pray, we actively pursue tenant enquiries and try to accommodate their availability for viewings whenever possible, even if this is after hours. We are also using our prospective tenant database to the best of our advantage and proposing each enquiring tenant considers our other listings. This seems like common sense but when actively pursued, we are converting interest from one property onto others regularly.

 

These are just a few examples of how we're keeping our vacancy rates lower than the Perth average.

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