The pandemic has resulted in many changes across industries and affected many peoples’ lives. Naturally, the property market has also been going through changes. Despite a fall in vacancy rates across all Australian states, Adelaide properties are attracting renters looking for more value. We’ll discuss some of the factors driving this demand here in the SA capital below.
Interstate Residents Are Moving Back To Adelaide
Since COVID-19 began, corporations have been forced to change their working environment. Professionals have been working remotely or working from home, making them think more about what kind of space they want from their homes. With work just a few steps away from their bedrooms, proximity to the office is no longer a restriction for them. Here in Adelaide, rental prices provide more value than those in Sydney or Melbourne, resulting in many of them choosing to move back to their home cities to be closer to family and friends.
Overseas Aussies are choosing to return home
Overseas Australians who have been based overseas have been making plans to return home in light of the pandemic. Aside from experiencing unstable situations in foreign countries, changing circumstances have also forced them to relocate back to Australia. Having sold off most of their assets in Australia in the past, they are looking for a place to settle down. Similar to returning interstate residents, overseas Australians have been looking at properties near their hometowns which can provide better living environment for the whole family without having to worry about commuting to work.
How To Find Quality Tenants For Your Adelaide Investment Property
High quality tenants are important to property investors because they represent a secure steam of passive income and will more likely treat the investment property with care and respect. As a landlord, it can be difficult to source and manage your own tenants as there are legal and management challenges when dealing with people of all walks of life.
When you have a property management agency you trust representing your Adelaide investment property, you need not worry about personally dealing with the leasing process. An established property management agency will also be able to provide adequate exposure both online and on-site to ensure your property is seen by potential and serious tenants.
If you are looking for a property management agency to manage your new investment property or are unhappy with the service provided by your current property management agency, give InStyle Management Property a call now at (08) 8233 5958. Give your Adelaide investment property the competitive edge it needs to woo quality tenants as soon as possible with our professional team today.