Data from the REIV closes off the summer months with a 1.6% vacancy rate in Greater Geelong which is proof that the rental market is strong. The median weekly rental for the region is $310 per week for 2 bedroom units and $320 per week for 2 bedroom houses. With sales still strong in the area, many investors continue to enter our unique bayside market.
Properties for lease by Geelong Property Managers have leased quickly over the past month with several leasing after their first inspections. Our enquiry has remained strong and prospective tenants have enjoyed previewing homes with 3D tours in our property advertising.
A great recent result was 14 Hancock Street in Corio in which a light refresh between tenancies, mainly comprising of new paint and carpet, gave the property a $40pw increase.
It’s amazing what a small renovation can do to a property
At Geelong Property Managers we can engage the right talented tradespeople on your behalf to improve your property in consultation with us – it’s all part of our specialty property management service to our landlords.
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