The most popular rental properties in Sydney are not necessarily the best, according to property agent and property blogger Zander Daley.
He writes on his blog the Real Estate Investor that property agents should be wary of looking at a property that’s “upmarket” and then “sitting on it” and not being able to rent it because it doesn’t fit the criteria.
Daley’s advice: “If you can get into an apartment that has room to spare, then go for it.”
“If it’s not good quality, then move on,” he said.
“But if it’s the right type of property that you can rent and you have a really good view of the city, it will be worth considering.”
It’s not just about the quality of the apartmentDaley said property agents need to take into account “quality” in their listings, “because that’s how people will pay for their rent”.
“I’ve heard it said, but in reality it’s just about what the quality is,” he told Seven.
Real estate agents should not take a property at face value, but should look at how much the property is actually worth, he said, and then look at “what the people in the neighbourhood are paying”.””
If they have a lot of people in that area then you want to know that, because then you’ll know how much rent you’re going for.”
Real estate agents should not take a property at face value, but should look at how much the property is actually worth, he said, and then look at “what the people in the neighbourhood are paying”.
“There’s a lot to consider, and a lot more to be done in terms of the quality and the fit and finish of the building,” he explained.
“You need to have a good idea of what the market will pay you, and you can’t just rely on what’s advertised on the internet.”
Daley also advised property agents to be wary about buying homes with a mortgage of less than $10,000, because they’ll be “in the black” and have to pay back that money.
“A lot of houses in the inner-city are $10k-plus properties and if they’re not going to pay you back, they’ll just take it on and not rent it out, and they’ll probably leave,” he added.
“When you have that type of house you need to be really careful about it.
You should be looking at whether or not the house is going to be worth it.”
In his blog, Daley said he doesn’t think property agents will be able to get away with being too cheap, “just because they’re looking at it on a website”.
“The real estate market is about a lot other factors, like people paying their rent, their property prices are going up and up, and the economy is going up, so I’m not sure that’s going to stop them from trying to get as cheap as they can,” he wrote.
Property agent Zander explains why he’s not concerned about the affordability of Sydney’s properties, and what it would take to get a better deal.
He says: “I’m not worried about affordability.
It’s not my concern.
If there’s a good offer, I’m going to go for that.””
The problem is that when you have properties that are $100,000 or $150,000 in Sydney and you’ve got no market for them, you’re not really going to get much in the way of a good price.”
There are some properties that you will get a good deal, and that’s what you want, but I’d rather have a real estate agent who can actually afford to rent the property.
“To find out more about Sydney property, and get advice from Zander, head to his website.
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