You’ve landed the perfect tenant after going through all the processes necessary. You’ve advertised, shown...
Property Management Company in Hobart: 8 tips for choosing a new rental in a boom town
If it is your first time out there home-hunting, you might feel you are riding a huge rollercoaster of emotions. You might even think you have excitement and fear belted into the dangling seat next to you. Those who have been around the rental block a few times, like the staff at our property management company in Hobart, know it is not always easy out there. And especially when there are very few rentals available in a boom town like Hobart. But we have found some ways to help soften the landing.
Hobart is no longer a secret
Not just newbies, but everyone looking for a rental home, has to consider various factors. Sometimes the dream home we have in mind is just that – a dream. This is especially true in an Australian city like Hobart, the capital of the Tasmanian island state.
Those who have lived there all their lives know there couldn’t be a better place to live. It is small, arty, and has a very different vibe from other state capitals on the Australian mainland. And up till now, it has boasted an affordable lifestyle and plentiful accommodation. You also know this, or you wouldn’t be looking for a rental there. But, unfortunately, a lot of other people also know it – now.
Bing, bang, boom
Hobart is in the middle of a whole collection of booms – in tourism, forestry, services and, of course, properties. Existing properties are selling (and being bought) for higher prices than ever before. And some of them have been bought to rent out – But not all of them.
Meanwhile, people from mainland cities like Sydney and Melbourne, are arriving in droves to settle in Hobart, and, increasingly, in surrounding areas. For investors and property buyers, the area is a treasure chest. For those wanting to find a home, the picture is not that rosy. The accommodation vacancy rate in Hobart is down to 0.5 percent.
Advice from a property management company in Hobart
Legendary rockers The Rolling Stones made a hit of “You Can’t Always get what you want”. The lyrics continued: “But if you try sometimes, you just might find you get what you need”. It may sound harsh and negative, but when you are battling to find a home in a boomtown, it is worth deciding on your priorities.
Ask yourself the following questions:
1. Is it a short or a long-term choice?
Choosing a rental apartment or house for the long term is one thing. It requires space to grow like including a partner or perhaps a child. Then you need to know whether it is close to schools, doctors and shops. But you can also calculate in imminent pay rises compared to foreseeable rent increases. If you are thinking short term, the only needs you have to consider are about what will make you comfortable right now.
2. Where do I want to live, and why?
Avoid dreams of a large balcony and first class fittings for a moment, and think about the practical and financial aspects of living there. These include differences in commuting time and travelling and living costs, among other factors.
3. Is the accommodation in good repair?
Very important when it comes to private rentals, this should not be a problem when you deal through a top property management company in Hobart. The condition the accommodation is in, and the state of the neighbourhood, give a good idea of whether your life there will be safe and comfortable.
4. What space do I really need?
Will I need to hire storage facilities? Do I really have to have a second bedroom just in case someone comes to visit for a weekend?
5. Am I doing this alone?
Thinking of sharing with a friend? Be sure to have that approved by your property management company. Also remember that not all friends make good house or flatmates.
6. What can I afford?
Before scanning the list of vacancies available, draw up a budget. Remember to include moving costs, bond requirements, and paying the first month’s rent up front.
7. What are the running costs involved?
Calculate what the commute to work will cost you. Also take into account any added costs for internet connection, garaging or storage. And who pays for the water and electricity usage?
8. Can I compromise on my wants?
When your options are few, because of the high demands for rentals, relook your priorities. It may not be easy to take your two dogs with you. You may not be able to give haven to a friend who can’t find an apartment right now. Find out what the owner’s stance is with regard to any extra requirements you have, and think about whether you can compromise.
Your requirements and concerns are not new to our property management company in Hobart. We’ll do our level best to get you not only what you need, but what you want too. We have dealt with many tenants in Hobart suburbs. These include North, South and West Hobart, Howrah, Kingston, Lindisfarne, Sandy Bay, Glenorchy and Taroona. Contact us for help in finding your new home.
- Hobart property management company: Welcome to Hobart!
- Property management company in Hobart: advice on moving companies
- Investors set Hobart’s property prices on fire!
We hope you enjoyed this article
The information contained in this article is based on the authors opinion only and is of a general nature which is not indicative of future results or events and does not consider your personal situation or particular needs. Professional advice should always be sought relevant to your circumstances.
See more articles below
You May Also Like
“No job is finished until the paperwork is done” goes the old saying. And when...
Thinking of selling your investment property? You need to be aware of the Capital Gains...