Real Estate


Ensuring you don’t undersell your rent in 2021.

We'll ensure you're not undersold
The 28th of March 2021 marks the date the Emergency Relief Period imposed by the West Australian State Government is lifted.

Saying goodbye to the Code means landlords will be in a position to enjoy a long-awaited upswing as the artificial interference imposed on WA’s residential rental market by the Government is eased.

The 12-month moratorium has inevitably delayed market movement, as demand has shifted to significantly outweigh supply. With the lift approaching, many landlords are now poised to enjoy the financial benefits of WA’s renewed demand for rental accommodation.

Nicole Hazell, Head of Realmark Urban’s Property Management Division commented on the changes landlords and tenants can expect over the next 6 to 12 months and key insights for landlords to consider when leasing and negotiating in the rising market.

“A proactive approach over three months has been key to ensuring our landlords’ assets are consolidated ahead of the 28 March,” said Nicole.

“We’ve followed a careful and planned process in preparing for the date, as there are many factors and stakeholders to consider.

“We predict a drawn-out restructure as tenancies renew throughout 2021 and expect many tenants to relocate to find housing that suits their affordability.

“In terms of negotiating new rents with tenants throughout the consolidation period, it’s important take into account each tenant’s ability to fulfil their renewed rental amount and revised tenancy agreement.

“Our goal is to not see tenants fall behind in rent which would cause financial distress for tenants and a reverse effect on landlord’s increased rental income capacity,” said Ms Hazell.

Achieving the premium price in the marketplace does not happen by chance. Re-negotiating rents and marketing properties for lease in a rising market requires considered skill and strategy to maximise the overall rental price. Nicole shares with landlords the 4 key elements that are non-negotiables when leasing for the premium market price in 2021.

“The right marketing, smart methodology, proactive tenant engagement and optimised days on market are key to ensuring you’re not under-renting your asset. At Realmark, we’re well-versed in these areas and have proven processed to ensure your asset is not undersold,” said Nicole.

If you’re a landlord looking to take advantage of the 2021 market upswing, get in touch with Realmark Urban today.
We'll ensure you're not undersold

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